Fremont Bank to roll out technology that speeds deposits of cash and checks
ATLANTA, June 16, 2011 – First Data Corporation, a global leader in electronic commerce and payment processing, today announced that it is the first processor to certify NCR’s next-generation Scalable Deposit Module (SDM), making NCR ATMs equipped with the module available to its ATM outsourcing and ATM driving client base.
NCR’s SDM technology allows consumers to deposit a stack of cash or multiple checks, in any orientation, through a single slot. This speeds the transaction, improving the ATM experience particularly for consumers who deposit large volumes, such as small to mid-sized businesses.
Fremont Bank, Fremont, Calif., will be First Data’s first bank client to deploy the SDM.
“We believe that adopting this capability early will serve to differentiate us in our market and enhance our relationships with our customers, who depend on the convenience of banking on their schedules,” said Christopher Olson, chief operating officer, Fremont Bank. “By reducing the amount of time they spend at the ATM, the SDM makes self-service / anytime banking much more feasible for consumers who have varied deposits to make.”
In addition to improving the customer experience at the ATM, SDM-enabled ATMs truncate checks and store them in the safe, eliminating the need for daily pick-up. They also use a simple media path that reduces jams and feature LED indicators that make it easier for bank staff to service the module without a maintenance call.
“We moved quickly to support NCR’s latest technology, knowing that advances in ATM functionality and convenience such as this can serve as real differentiators for our bank and credit union clients,” said Mary Knich, vice president, ATM Services, First Data. “First Data is committed to delivering innovations that meet our clients’ needs and provide solutions for their customers.”
First Data is one of NCR's major global indirect channel partners in the financial services sector, providing outsourced ATM services using NCR's hardware for banks in Germany, Slovakia, Austria and the United Kingdom, as well as the U.S.
About Fremont Bank
Fremont Bank (www.fremontbank.com) is the leading full-service community bank in Northern California. Founded in 1964, Fremont Bank is one of the oldest independent family owned and managed banks in the region and focuses on personalized service for individuals and businesses. It serves communities through 19 branches and seven additional ATMs throughout the Greater Bay Area. Exceptional client service is the cornerstone of Fremont Bank’s business. Accommodation of customer needs in a friendly, personal atmosphere characterizes the Bank’s culture.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive customer revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction.
Kim Graber, First Data