Following this announcement, BankDhofar is set to be the first financial institution in the region of the Middle East to utilise the RM4V cash recycling engine in its DN Series ATMs and cash dispensing machines (CDMs). This implementation is expected to provide customers and clients of the institution with additional secure and efficient banking services, as the process will be managed in partnership with CNS, Diebold Nixdorf’s collaborator in Oman.
The launch is expected to improve the manner in which BankDhofar meets the needs, preferences, and demands of its customers and users, as the institution aims to optimise its overall experience. The DN Series Recycler ATM/CDM was designed to have the capacity to dispense 300 banknotes while complying with the cash and fraud detection protocols and requirements of the Central Bank of Oman.
As cash recycling represents an important strategy for environmental well-being by reducing cash management costs for banks and financial institutions, BankDhofar’s incorporation of RM4V represents an important step into the enterprise’s overall development process.
Cash management costs are reduced by accepting, storing, and recirculating the money that was previously deposited into an ATM. This is set to create a closed-look recycling environment that will automatically move funds through the systems that provide the additional advantages of extending cash-in-transit (CIT) intervals, as well as reducing CO2 emissions.
The RM4V technology is expected to be leveraged by the bank in order to optimise the cash storage solutions within the ATM, while also being based on a vertical design configuration of the cassettes without the need to compromise the small footprint of the DN series. The cash recycling engine was developed in order to provide multi-denomination capabilities, a larger capacity for more banknotes, flexible configuration options for dispensing, recycling, and depositing, as well as more secure and efficient transport of banknotes.
The Recycler ATN/CDM solution was designed in order to function like a 24/7 mini cashier, which caters to the multiple and diverse needs of individuals or medium and large corporate clients. Alongside the NFC-enabled technology (which will be used in order to optimise the overall user experience through the leverage of secure and convenient contactless transactions), individuals and businesses will also be enabled to increase their withdrawal limits with the BankDhofar mobile application. This will give them the possibility to benefit from access to higher withdrawals as well.
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