Bank Alfalah Selects Wavetec for a Nationwide Deployment of Wavetec’s Smart Cash-in Self Service Kiosks

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With over 640 branches, Bank Alfalah is one of the leading banks in Pakistan serving corporates, government entities and retail customers. The bank’s aim is to empower their customers while ensuring total customer experience, security and increase its outreach. In sync with these key pivotal objectives, Wavetec, a Global Multinational Technology Group, is deploying its “Smart Cash-in Self Service Kiosks” with an initial pilot project and eventual full scale rollout.

Smart Cash-in Self Service Kiosks enable users to deposit cash into bank accounts, mobile wallets, pay utility bills and buy other services in a one-stop fast, convenient and secured manner. The required infrastructure is powered through a very powerful software allowing a customizable platform with multiple add-on optional features. The kiosk itself is very compact and robust making it attractively brandable and placeable in all kinds of public areas.

Given the advanced software capabilities, the pre-flight transaction feature allows customers to make transactions on the bank’s mobile application. They can simply approach the kiosk, scan the QR code and seamlessly avail the required services by depositing cash through its bulk cash-acceptor.

By deploying Wavetec’s technology, Bank Alfalah will be able to:

  • Provide convenience to account holders, which includes 24×7 banking capabilities
  • Reduce operational cost and dependency on tellers
  • Build-up cash deposits through increased service points
  • Reduce waiting times and queues at its branches

As a vertically integrated hardware and software provider, Wavetec’s solutions are benefited from multiple iterations of development and refinement. The required software Middleware provides both API abstraction, allowing kiosks and other IOT devices to integrate in the most efficient manner and provide the most crucial link in the growing evolution of cash digitalization.