NORTH CANTON, Ohio (4/1/14)--Diebold and Suncoast CU, with the support of FIS, will offer cash recycling through Diebold's Opteva Flex Performance Series ATMs.
Suncoast CU, with $5.5 billion in assets, Tampa, Fla., will work with Diebold and FIS to reuse consumer-deposited cash for future ATM withdrawals, reducing the frequency and cost of cash replenishment. Following testing and certification, Suncoast CU plans to implement the ATMs with full cash recycling and deposit automation capabilities at select branches.
Diebold is a CUNA Strategic Services provider.
"Diebold and Suncoast have been leading the evolution of the self-service channel to a more efficient platform for consumers and financial institutions," said Mychal D. Kempt, Diebold. vice president of North America operations. "FIS' involvement adds full support from a leading processor, bringing fully automated cash recycling to fruition in the U.S."
"The ability of an ATM to process deposited cash and reuse it later is an exceptional innovation that will streamline self-service cash management and improve our ATM uptime," said Dulcey Hordge, Suncoast CU vice president of document services. "We foresee impressive savings potential for our locations that experience heavy cash transaction volumes."
FIS, a banking and payments technology provider, is designing and implementing the back-end processing required to facilitate full cash recycling.
"FIS will address the complexities of enabling cash recycling by integrating accounting, balancing and processing functions between the ATM and Suncoast's systems," said Bruce Lowthers, FIS executive vice president of North American card solutions. "We anticipate a successful launch of the technology."