Visions FCU of New York Adopts Diebold's Deposit Automation Solution
Share:
Members benefit from credit union's technological leadership
NORTH CANTON, Ohio, Nov. 8 -- New York's Visions Federal Credit Union (Visions FCU) has installed five Diebold (NYSE:DBD) Opteva® automated teller machines (ATMs) with full deposit automation technology, making it one of the first financial institutions in the United States to completely remove the envelope from the deposit transaction.
Full deposit automation allows Visions to reduce staff time necessary to clear ATMs of deposits, provide customers more ready access to their funds, expedite journal entries and position the bank to provide technology that is superior to its competitors in the region. Since its deployment, Visions has seen an increase in the number of ATM transactions, as well.
Diebold's bulk note acceptor (BNA) accepts a mixed stack of currency and counts, authenticates and deposits the notes, immediately crediting the customer's account. The intelligent depository module (IDM) allows checks to be deposited directly into the ATM, without an envelope, which allows faster processing and fewer trips to the ATM to collect deposit envelopes. It also provides the customer with an image of the deposited check on their receipt.
Consumer education, the key to gaining user adoption of the technology, can significantly increase the rate of consumer acceptance, which is a key driver of the business case. According to Tom Hull, vice president and Chief Information Officer of Visions FCU, members of the credit union were quick to adapt to the new technology and have been singing its praises since the first unit was installed in the spring of 2006.
"Our members have given us really positive feedback on this new technology," Hull said. "We kept an assistant near all the new ATMs for the first few weeks, but our members took to it immediately. The BNA is particularly handy for our retail business members, who deposit large sums of cash on a regular basis. They love the immediate availability of their funds."
The seamless integration of the new ATMs into the credit union's existing network of ATMs was another benefit, Hull said.
"We wanted cutting edge automation with simple management options, and Diebold was the only supplier who could meet our needs," Hull said, "They were simply the only supplier to offer everything we wanted in a package that was scaleable, expandable and easily integrated into our system."
"It takes innovative leadership to be an early adopter of technology that is new to your market," said David Bucci, senior vice president of Diebold's Customer Solutions Group. "Visions made the proactive decision to provide its customers with the best ATM functionality available anywhere, and we're happy they found it with Diebold."
About Visions FCU
Visions Federal Credit Union, located in Endicott, New York, has assets over $1.7 billion and provides services via over 80 ATMs and 21 branch offices to greater than 115,000 members throughout south central New York and the northern tier of Pennsylvania.
About Diebold
Diebold, Incorporated is a global leader in providing integrated self- service delivery and security systems and services. Diebold employs more than 14,000 associates with representation in nearly 90 countries worldwide and is headquartered in Canton, Ohio, USA. Diebold reported revenue of $2.6 billion in 2005 and is publicly traded on the New York Stock Exchange under the symbol "DBD." For more information, visit www.diebold.com/.
FCMN Contact: aldridk@diebold.com
Source: Diebold, Incorporated
CONTACT:
Media Relations,
Anna Istnick,
+1-330-490-6661,
istnica@diebold.com
Web site: http://www.diebold.com/
