15 November 2012

Nigeria: Inlaks to Boost ATM Operations

As part of its determination to reduce the number of times a branch custodian of Automated Teller Machines (ATMs) evacuates the cash deposit machine, Inlaks Computers said it has introduced the first model of Hyosung 8700 deposit and dispenser machine into the Nigerian market.

The essence, according to Inlaks, is to help ATM operators to better manage the machine at reduced operational cost.

The machine has five cassettes each for dispensing and depositing, to accommodate areas where cash handling are of priority needs. It is scalable to perform cash recycle operations when required without a change in machine.

Executive Director, Infrastructure, e-Business and Managed Services arm of Inlaks Computers Limited, Mr. Rajiv Bhatnagar, who spoke on this development said "This is the first ATM of its type as other models have standard four cassettes. It also provides other benefits like wide format touch and screen and can be immediately configured to accept any additional higher currency whenever it is introduced."

According to Bhatnagar Inlaks is proud to have designed and customised its products with Hyosung, acknowledging the dynamic nature of our environment.

With a production capacity of 8,000 machines in a month and total production of 96,000 per year, Bhatnagar said Nautilus Hyosung has become the third largest ATM manufacturer worldwide.

He said Inlaks decided to partner Hyosung ATMS because of its position as the market leader in lower prices, high durability and reliability of total ATM functionality and services.

He said: "The benefits assured to clients at reduced cost of ownership, reduced operational cost, reduced maintenance cost, longer ATM service life. Having expertise in both power and ATMS business lines, Inlaks Computers has created a onetime service fix for both power and ATMS. With over seven major services centres and ten additional virtual centres nationwide, her robust support structure, access to spares and well trained personnel, has made it easy for most financial institutions in the country to benefit from their partnership with Inlaks."

Bhatnagar noted that retail cash management in the Nigerian economy is a complex and expensive operation.

According to him, notable innovations, policies and regulations have been created for cashless programs like offsite ATMS, and mobile banking. The policies, he said, were designed to reduce physical cash handling in our economy but there are certain challenges that stand in the way of adequate return on investment for the financial institutions and the kind of service experienced by their customers.

Bhatnagar disclosed that through its innovative products and high service delivery, Inlaks established a long standing partnership with large financial institutions such as First Bank of Nigeria Plc and United Bank for Africa Plc, to create one of the largest ATM networks with maximum availability to its users in Nigeria.

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