Bank Alfalah is one of the largest private banks in Pakistan with a network of over 700 branches in more than 200 cities. It has an international presence in Bangladesh, Afghanistan, Bahrain and UAE through its holding and operating group company, The Abu Dhabi Group.
Business Case & Challenges
High Cash in Circulation
Demanding high volumes of physical cash management, leading to increased time spent by tellers per customer. A problem that is inherent to most banks and credit unions in developing and high cash-dependent countries.
Limited Operational Hours
Limited banking hours, while operational hours for most businesses conclude much later. Day-end deposits have to be made the next working day, adding to risk and inconvenience.
Acceptance and Adaptation period for Customers
As with most new technologies, the adjustment period can be lengthy and difficult. Customers must first accept, then understand the need for and then finally adapt to the new channel. The solution is a user-friendly interface, full of features, easy to use and centric to customer convenience and security.
Part of the Wavetec group, Azimut is a software developer that specialises in self-service solutions for the banking industry. Their modular software and hardware is designed and customised with their customer in mind.
CQuick Cash Deposit Machines are designed to prioritise efficiency in operations management by providing self-service options. The solution increases the speed of service, is geographically mobile and guaranteed to raise customer satisfaction standards.
Azimut hopes to inspire businesses to join a global interlinked banking ecosystem, with the capability to complete all tasks on one machine – be it paying utility bills or school fees or internet bills, buying tickets to a movie or for the bus, sending remittance or withdrawing cash to pay for a meal.
Solution
Azimut’s CQuick Cash Deposit machines and reverse ATMs are contactless and conveniently safe solutions. The solution is based on extensive research and development, built by industry-recognised software developers and engineers, with extensive experience in digitised self-service solutions for the banking sector.
The Smart Cash Deposit machines and reverse ATMs ensure operational efficiency, speed of service, customer satisfaction – all while being scalable and geographically mobile.
A key to adaptation and success is the interlinked banking ecosystem, offering a “one-stop” alternate channel to completing many tasks – be it customer registration, account opening with KYC, interbank fund transfers, paying utility bills, third party payments, buying tickets or sending remittance.
Bank Alfalah recognised the importance and need for such a smart digital channel, and has since then deployed it in 200+ branches nationwide. Further with the pandemic and the new norms of social distancing, Bank Alfalah has still been able to deliver to its customers commitment through self-service and contactless options. And it is gaining popularity, as is clear from our exhaustive list of deployment locations – https://www.bankalfalah.com/list-of-cdms-conventional/
CQuick Cash Deposit Machines help them facilitate:
Bulk Deposits
Our Cash Deposit kiosk accepts deposits in bulk, reduces time spent queueing and enhances the deliverability of services offered. We have designed our cash recycling and depositing solution with one key goal – to automate the cash handling process. For by recycling cash and upgrading branch analytics, Azimut can help you reduce costs and raise profitability.
Extra Cash-In capacity
Bulk escrow-enabled Cash Deposit of upto 500 notes in one go, with speedy processing and a total storage capacity of up to 10,000 notes.
Multimodal biometrics
Transactions equipped with advanced biometrics – finger and facial recognition for KYC verification, thereby eliminating instances of identity theft and fraud.
Modular Cash-In kiosk
Robust design, low cost of ownership and ease of maintenance for convenient deployment in agent networks and public spaces.
Cardless Transactions
CQuick establishes a class of its own by integrating both banking and mobile financial wallets and allowing customers access to the full range of cash transactions.
Live video-enabled remote assistance
Customers can opt for the live-help option, and be assisted by a remote staff member via video chat. This further helps aged and inexperienced customers to confidently adapt to the new technology.
Multi-channel Self-Service
An option to prestage transactions, using a mobile-initiated QR code generator – aiding the customer in saving time, and reducing time spent using the solution.
Real-time monitoring
Monitor all connected kiosks and components for flexible alerts and escalation policies.
Analytics
Track transactions, revenue and profitability using real-time actionable intelligence to improve revenue while optimising deployments. Know what is happening, at all times.
Inventory Management
Efficiently record inventory levels, orders, sales and deliveries using real-time data.
Enterprise User Access Controls
Enterprise level user access control with customisable data visibility and the right to manage individuals and groups.
Operation Management
Deliver day-to-day operation overviews to managers to help them implement practices for increased efficiency, quality, and control.
Resilient and sturdy design
Equipped with a large escrow to enable simple transaction rollback – fitted with a secure electronic journal and real-time detailed cash and inventory administration including deposits, replenishments, pick-ups or other transactions. Real time information about transactions is readily available for ensuring the business runs smoothly.
Additional Benefits
Why stop at a handful?
- – 24/7 operational and customer servicing capability
- – Integration with mobile apps and wallets
- – Deployable in agent networks
- – Large sums of instant cash deposit within 30 seconds
- – Real-time video conference communication channel, with customers and feedback monitoring
- – Bank-specific UI’s with multilingual functionalities
- – Reductions in operational costs
- – Increased service network coverage
Our machines stand out because of the services they enable. Including:
Smart Connect Middleware
This is a single integration point for all kiosks and devices, facilitating quicker returns on investments by improving device availability, efficiency and reducing the timeline for marketing new initiatives. It allows for:
- – Extensible platform with modules for banks, including inventory, trip management and predictive replenishment
- – Open API specification for seamless integration with existing devices
- – SMS and email alert generation
- – Live analytics and dashboards and the detailed, comprehensive reports they create
Enterprise Software Solution and App Store
We have built an SDK into our machines, with open standards and open APIs. And if you have existing assets in Android or Web technologies, your machines can re-use these – be it for agent on-boarding, card or bill payment, cash management or ERP integrations.
ViaOS – Scale with Smart Self-Service
With the aid of mobile integration and ViaOS, customers can seamlessly complete their transactions at the kiosks by scanning a QR code, choosing to prestage complex transactions and thereby reducing user interaction over time. This technology helps banks automate and streamline their services, assuring user-friendly visitor experiences.
Results
- – Substantial increase in Self-Service transactions, every month
- – More socially-distanced and contactless journeys enabled
- – Minutes saved per teller increased
- – Minutes saved per customer increased
- – 25% increase in women making transactions
- – 24/7 coverage of financial and transactional needs
A journey that started with just 40 kiosk deployments has now reached to 200+ cash deposit machines in under two years
