Wavetec’s Cash Deposit Machines Strengthen Meezan Bank’s Self-Service Deposit Operations
Overview
Meezan Bank, Pakistan’s leading Islamic bank, continues to expand its self-service banking capabilities to support growing customer volumes and evolving service expectations. As part of this initiative, the bank partnered with Wavetec to deploy Cash Deposit Machines (CDMs) across selected branches, enabling faster, more accessible, and teller-independent cash deposit services.
The deployment supports Meezan Bank’s commitment to operational efficiency, customer convenience, and Shariah-compliant digital banking innovation.
The Challenge
With increasing branch activity and a high dependency on cash transactions, Meezan Bank faced several operational challenges:
- High counter load driven by frequent cash deposits
- Longer wait times during peak hours
- Limited service availability beyond standard branch timings
- Operational strain on branch staff managing repetitive cash-handling tasks
The bank required a secure, scalable solution that could absorb daily transaction volumes while maintaining accuracy, compliance, and customer trust.
The Solution
Wavetec deployed its Cash Deposit Machines (CDMs) – designed for high-volume environments and seamless integration with core banking systems.
The CDMs enable customers to deposit cash directly into their accounts with real-time credit, bulk note acceptance, and secure transaction verification. Built for reliability and ease of use, the machines reduce manual handling while extending service availability beyond branch counters.
Customer Journey
The introduction of CDMs transformed the deposit experience for Meezan Bank’s customers:
- Customers initiate deposits independently without teller assistance
- Cash is accepted in bulk and processed instantly
- Transactions are credited in real time with printed receipts
- Customers complete deposits in minutes, even during peak hours
This simplified journey reduced queues, improved service predictability, and encouraged wider adoption of self-service channels.
Results
The CDM deployment delivered measurable operational and customer experience improvements:
- 900+ transactions processed daily
- Average daily deposits exceeding PKR 100 million
- Reduced teller workload and faster branch throughput
- Improved customer satisfaction through quicker, self-directed service
- Extended deposit availability without increasing branch operating hours
Conclusion
Through its partnership with Wavetec, Meezan Bank successfully enhanced its cash deposit infrastructure with a secure and scalable self-service solution. The deployment of CDMs enabled the bank to manage high transaction volumes efficiently while improving customer convenience and operational control.
This collaboration reflects Meezan Bank’s continued focus on modernizing branch services and adopting technology that supports sustainable growth in Pakistan’s evolving banking landscape.
