Deposita, an innovation-led provider of cost-efficient cash management solutions for retail and banking environments, has developed the third generation of its automatic banking machines (ABM) that now offers a cash management solution for the international market. The ABM counts and validates bank notes on the customer’s premises and communicates via GSM to the Deposita internal management platform, in order to electronically credit cash deposits to the customer’s account.
Product evolution
Deposita commercial director, Christo Terblanche, explains: “The cash market is our core business. It has seen a 17% year on year increase in the past three years. Besides financial institutions, we are the only supplier of end to end cash management solutions in South Africa.
“We developed the ABM and our banking platform from scratch four years ago, and took a decision to gain competitive advantage by making use of the latest in electronic and wireless technology to ensure reliability, and speed of installation. Wireless is the technology of the future for devices in the field.”
According to Terblanche, traditional fixed line systems can take up to six weeks to install, and Deposita needs to deliver cash management solutions as and when their customers require them. With wireless technology, Deposita is not reliant on any existing infrastructure in order to install a system.
The ABM’s communications are based on the Wavecom GSM/GPRS modem, from Trinity Telecomms. According to Terblanche, the Wavecom modem was backward compatible with Deposita’s existing technology, which uses a very similar AT command set. The Wavecom wireless modem provided a cost-effective and reliable platform.
Deposita specialises in customisation of its cash management solutions and is now in its third product generation, which is highly customisable particularly due to its web-based user interface. This interface enables the client to access the system via the Internet by means of a secure username and password, to gain instant and accurate information about their ABM deposits.
Market focus
Terblanche says that the ABM offers security features and benefits that far exceed that offered by tills and drop safes. “We launched our third generation system in August. It features international capabilities making it a generic platform that will support technology anywhere in the world; we already have interest from the UK, UAE, Bulgaria and the USA.
“We will in the future strongly focus on the international market. The Wavecom modems already have all the necessary international certification requirements for electronic hardware, making it instantly portable to the international market. Staying ahead gives us time to design and develop the next generation. It will help us to retain our competitive edge in the global market,” he concludes.
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