Inlaks Unveils Cash, Cheque Deposit ATM to Nigerian Banks
- By Abimbola Tooki
- Published March 29th, 2010
- News
- Unrated
INLAKS Computers Limited, a leading information technology company and representative of Nautilus Hyosung in Nigeria, last week at the first African Banker ATM Security Forum in Lagos, unveiled the latest Automatic Teller Machine (ATM) that accepts both cash and cheques. The product also dispenses cash which most Nigerians are already familiar with.
The new technology, Nautilus Hyosung (Monimax 7600T), described as an ideal choice for handling high volume transactions with a capacity to hold up to 12,000 notes, offers the newest technology that accepts bundle-note or bundle-check deposits. This, in effect, would further reduce long queues that have become the hallmark of some of the Nigerian banks that regularly face network downtime.
According to Rajiv Bhatnagar, executive director of Inlaks Computers, his company decided to partner with Hyosung having studied several other competitors in the global market and discovered that the brand is the most popular ATM technology in the United States of America with over 40 per cent market share in US.
Apart from this, Bhatnagar said the product is 30 per cent cheaper than most of the competing brands in Nigeria at the moment adding that the unique security features of Monimax 7600T include two cameras that take the face and the hand of anybody who conducts any transaction with the ATM. It is biometric, which means that until user puts his/her fingerprint on the ATM, it doesn’t authenticate the user and the transaction. Also with Hyosung, which can be customised to meet customer’s satisfaction, companies are given opportunities to advert their products and services through a specially designed platform for that purpose in front of the machine.
Bhatnagar also disclosed that Inlaks provides 24-hour supports for the technology in all parts of the country through its country-wide support centres.
As a provider of integrated hardware, software and services, he said Nautilus Hyosung has become one of the global ATM manufacturers in the world. The company is both the number one ATM provider in the South Korean financial services market and the biggest ISO in the ATM Van services market. With over 200,000 ATMs deployed around the world, Nautilus Hyosung has firmly established its presence in Europe, North and South America, the Middle East, Asia and Africa especially in Nigeria where First Bank of Nigeria Plc has deployed over 140 of the product across the country.
Nautilus Hyosung participated in the CeBIT 2010, which was held recently in Hannover, Germany, where visitors had the opportunity to learn about, examine, and experience today’s most innovative technologies. While emphasizing a full line-up of ATM technologies dedicated to financial institutions, Nautilus Hyosung also demonstrated a variety of deposit automation product that was one of the Nautilus Hysoung’s next generation ATM line-up.
“With quality products, a vertically integrated manufacturing approach, customer centric philosophy and world-class software integration capabilities, we, in partnership with Nautilus Hyosung, will continue to deploy our advanced financial services solutions to the Nigerian financial services industry to further fortify our position as the industry leader in Nigeria,” Bhatnagar said.
The new technology, Nautilus Hyosung (Monimax 7600T), described as an ideal choice for handling high volume transactions with a capacity to hold up to 12,000 notes, offers the newest technology that accepts bundle-note or bundle-check deposits. This, in effect, would further reduce long queues that have become the hallmark of some of the Nigerian banks that regularly face network downtime.
According to Rajiv Bhatnagar, executive director of Inlaks Computers, his company decided to partner with Hyosung having studied several other competitors in the global market and discovered that the brand is the most popular ATM technology in the United States of America with over 40 per cent market share in US.
Apart from this, Bhatnagar said the product is 30 per cent cheaper than most of the competing brands in Nigeria at the moment adding that the unique security features of Monimax 7600T include two cameras that take the face and the hand of anybody who conducts any transaction with the ATM. It is biometric, which means that until user puts his/her fingerprint on the ATM, it doesn’t authenticate the user and the transaction. Also with Hyosung, which can be customised to meet customer’s satisfaction, companies are given opportunities to advert their products and services through a specially designed platform for that purpose in front of the machine.
Bhatnagar also disclosed that Inlaks provides 24-hour supports for the technology in all parts of the country through its country-wide support centres.
As a provider of integrated hardware, software and services, he said Nautilus Hyosung has become one of the global ATM manufacturers in the world. The company is both the number one ATM provider in the South Korean financial services market and the biggest ISO in the ATM Van services market. With over 200,000 ATMs deployed around the world, Nautilus Hyosung has firmly established its presence in Europe, North and South America, the Middle East, Asia and Africa especially in Nigeria where First Bank of Nigeria Plc has deployed over 140 of the product across the country.
Nautilus Hyosung participated in the CeBIT 2010, which was held recently in Hannover, Germany, where visitors had the opportunity to learn about, examine, and experience today’s most innovative technologies. While emphasizing a full line-up of ATM technologies dedicated to financial institutions, Nautilus Hyosung also demonstrated a variety of deposit automation product that was one of the Nautilus Hysoung’s next generation ATM line-up.
“With quality products, a vertically integrated manufacturing approach, customer centric philosophy and world-class software integration capabilities, we, in partnership with Nautilus Hyosung, will continue to deploy our advanced financial services solutions to the Nigerian financial services industry to further fortify our position as the industry leader in Nigeria,” Bhatnagar said.
