Cashless ATM to change face of branchless banking
Source: KAL , Author: Posted by BI-ME staff
Posted: Fri June 22, 2012 3:52 pm

INTERNATIONAL. Global ATM software company, KAL, today launched the Retail Teller Machine (RTM): a revolutionary cashless ATM which is set to transform branchless banking forever.

The Times Square New York launch showcased KAL’s RTM – a machine that provides all ATM transactions including cash-out and cash-in - but has no cash inside the machine.

Operating at one tenth of the cost of bank ATMs, RTMs do not dispense cash. Instead they print a unique voucher which is then exchanged for cash inside the same store. The retailer is immediately compensated by the RTM which executes a back-to-back transaction. This remits the dispensed amount into the retailer’s bank account.
Running the same software as ATMs, the RTM provides a full range of banking services and even includes the ability for the customer to video conference with a bank call center.

This means no more expensive branches, regular maintenance or armored services. With the lightweight RTM, it’s simply a case of plug and go.

KAL’s CEO, Aravinda Korala commented: “We believe the RTM is one of the most important products ever to be introduced to the self-service banking industry. With significantly decreased running costs, banks can now ensure they have a presence wherever their customers are. Most excitingly, it offers a cost effective way to open up banking services to millions of people around the world who do not have easy access to their banks. The patented process of the RTM also provides an exciting new opportunity for retailers to work closely with their banks in providing convenient and safe access to banking services.”

For further information, please visit rtm.kal.com

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: May 27, 2017
UAE. As demand for the luxury segment signals a comeback, developers have responded by scaling up launches; general consensus that the segment has underperformed appears to be factual.
date:Posted: May 27, 2017
UAE. Released at marquee industry event IoT World Forum, the survey data also reveals keys to IoT success; IDC predicts that the worldwide installed base of Internet of Things (IoT) endpoints will grow from 14.9 billion at the end of 2016 to more than 82 billion in 20251.
date:Posted: May 25, 2017
UAE. Over 25% of successors think they will lose market share to new entrants; Quicker than ever, the past is being left behind - a tendency that in the perception of many goes against the tradition of family-owned businesses.
UAE. Released at marquee industry event IoT World Forum, the survey data also reveals keys to IoT success; IDC predicts that the worldwide installed base of Internet of Things (IoT) endpoints will grow from 14.9 billion at the end of 2016 to more than 82 billion in 20251.
dhgate