by OKI Electric Industry Co., Ltd.
OKI (TOKYO: 6703) today announced the launch of a new cash-recycling ATM, ATM-Recycler G8, targeting overseas markets. Incorporating expertise accumulated by OKI in Japanese and international markets, this ATM is a strategic product in response to higher speed and greater capacity for expanding cash demand and higher future scalability. As part of plans to grow its mechatronics business in overseas markets, OKI plans to sell 150,000 units of this model over the next five years in emerging markets like India and Southeast Asia, where market expansion is expected.
The very large volume of cash circulating in emerging markets has generated demand for increased efficiency in teller operations at financial institutions. In these markets, due in particular to demand on individual and corporate customers to automate cash deposit handling, cash-recycling ATMs, reducing the intervals of cash replenishment/collection and enabling efficient cash management, are emerging as a key element of the social infrastructure.
The newly introduced ATM-Recycler G8 realizes higher utilization rates and reduction in total operating costs thanks to various improvements, including the industry’s largest banknote capacity (based on OKI research; 12% more than the previous model), 50% faster processing speeds, 20% reduction in installation weight and other advances. In addition, the ATM-Recycler G8 is designed to accommodate future environmental changes surrounding ATM, including integration with operation management system leveraging Internet of things (IoT) and artificial integration (AI), and new service expansion responded to Fintech.
“OKI has led the way in ATM technological innovations as a major vendor in this field since pioneering the development of cash-recycling ATMs in the Japanese market in 1982,” says Kenichi Tamura, Senior Vice President and Head of Mechatronics Systems Business Division. “Introduced in 2009, the ATM-Recycler G7 handles currencies of multiple countries and continues to be adopted in the global ATM market, which until its introduction had been dominated by cash dispensers. The ATM-Recycler G7 is currently in use in 11 countries. Moving forward, leveraging its track record and the trust it has gained in the field of cash-recycling ATMs, OKI will continue delivering solutions to increase ATM added value in response to future changes in payment methods while advancing market growth with the new ATM-Recycler G8.”
- Shipment begins
- May 2017
- Sales target
- 150,000 units over five years
- Further improvements in ATM utilization rates
With the industry’s highest banknote capacity (based on OKI research; 12% more than the previous model), ATM-Recycler G8 minimizes the potential for ATM stoppages due to cash overages/shortages. In addition, the gain of more than 50% in processing speeds helps minimize lines at ATMs for customers handling large volumes of deposits and withdrawals.
- An even greater choice of installation locations
The 20% reduction in weight simplifies equipment transport and installation and the 30% reduction in area required for maintenance makes it possible to install ATMs in confined areas where the previous model could not be installed.
- IoT and AI for more efficient ATM operation management
Integration with OKI’s proprietary operation management solution RM3(*1) improves operational efficiency by allowing online collection of data from the ATM and AI-based data analysis. This makes it possible to minimize staff visits to ATMs by forecasting the optimal timing of replenishing cash supplies based on trends in volumes of cash handled and allowing preventive maintenance(*2) to increase ATM’s utilization rates.
- Delivering more secure transactions through security enhancements
The ATM incorporates the latest countermeasures against diverse security threats, including skimming,(*3) physical damage, and logical attacks such as hacking, to minimize unauthorized use of the ATM.
- Increased ATM usage thanks to higher user satisfaction
Improved ATM design offers improved usability and security. In addition to incorporating a large side visor to secure a private space in which users can conduct transactions without worrying about spying by others around, the ATM configures customer controls in a compact space at the center of the unit and offers gentle guidance for customers with a high-visibility flashing blue lamp. The front of the unit provides a ledge where users can place their smartphones for improved usability even for transactions linked to e-payments made possible by Fintech advances.
- Energy conservation, eco-friendly features
The eco-friendly ATM consumes 20% less electricity than the previous model. Lighter weight helps reduce fuel costs in shipments to customers.
- *1 :RM3
ATM operation management solution provided by OKI. By connecting the ATM to the operation management server via a network, this system enables various functions, including operations monitoring, maintenance management, and cash management optimized for cash-recycling ATMs.
- *2 :Preventive maintenance
A maintenance method for preventing equipment’s failure. To perceive signs of potential failures monitored through periodic online collection of sensor data and data on end-of-life components, analyzing trends, and taking appropriate measures before equipment failures.
- *3 :Skimming
Common type of card-based crime involving capture of data from magnetic stripe cards for use in producing clone cards that contain identical data.
About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan’s leading telecommunications manufacturer in the Info-telecom field. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its info-telecom systems and printer operations. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI’s global website at http://www.oki.com/.
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