Whether depositing cash or checks, checking your balance at your bank or credit union, or withdrawing cash, we’ve all had to use one before. In today’s day and age of technological advancements, using one has never been easier. In fact, they’ve allowed for financial institutions to undergo branch transformations. So, what is this powerful piece of technology? Let us talk about one of the foundational pillars here at Wittenbach: Automated and Interactive Teller Machines (ATMs and ITMs).
On September 2, 1969, the U.S. was introduced to a life-changing banking machine. The first ATM made its public debut in Rockville Centre, New York. It dispensed cash to customers who banked with Chemical Bank and became a revolutionary product in the financial industry. It became the solution to making in-store financial transactions less populated by eliminating a customer’s need to visit a bank or credit union to conduct the basic act of dispensing money.
Wittenbach started operations in 1974. For over four decades, we have been able to build our expertise and deliver a full suite of branch-transformative solutions to a wide array of financial institutions, ranging in scale from smaller regional operations to larger and nationwide.
One area of Wittenbach’s deep specialty expertise is ATMs and ITMs. This is thanks to one of our partners, Hyosung, which is a highly trusted company in the industry of ATM/ITM manufacturing. With their knowledge and reliability, Hyosung can help Wittenbach offer clients in the financial and retail industries state-of-the-art ATMs and ITMs that are capable of cash recycling.
Cash recycling is a process that reduces overall time spent opening, closing, balancing, auditing, reconciling, and cash transit processing by 60%. In cash recycling, banknotes are placed into a feeder and passed through a bill identifier to determine the denomination and validity of the banknotes. This cash is then stored in separate cassettes or modules for dispensing in future transactions. Because of this reduction in time, commercial deposit processing speed also improves. Cash recycling is one of the many factors that deem an ATM or ITM branch transformative or not.
With the above information and knowledge behind ATMs and ITMs, let’s take a look at some of the ATMs and ITMs that are manufactured by Hyosung.
Offered ATMs and ITMs
Wittenbach offers a handful of Hyosung ATM and ITM models to choose from. Below are some meta explanations of each different type of teller machine, as well as if the machine is lobby facing or through-the-wall.
- The 8300 Series by Hyosung is unique from some of the other offered teller machines.
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- The MX8300I : It is an exterior island machine that can replace any standard island ATM with no additional space needed. This ITM has the ability to integrate to your bank or financial institutions core. It has cash recycling capabilities, and is able to deposit 50 checks at one time. This makes the MX8300I a high-capacity ITM. This ITM also comes with interactive video assistance from Hyosung, which allows tellers to connect virtually to your customers whenever they need assistance.
- The 8300D: This model in the 8300 ITM series is designed to be a drive-up banking. It has cash recycling capabilities, and thanks to its rugged design, it can withstand most harsh weather conditions. Not only is its design rugged, its security features are topnotch. It features anti skimming card readers, contactless readers, for customers that use their smartphones or watches to conduct banking transactions without a physical card, and comes with a backup battery.
- The 8300T: The “T” at the end of this 8300 series machine stands for “through-the-wall”. This ITM has many of the capabilities mentioned above, but comes equipped with a recessed screen for easier customer and technician access.
- The MX8100 Cash Recyling ATM by Hyosung is an industry game changer. It has one of the smallest footprints for a cash recycling ATM. The MX8100 ATM is also branch transformative because of its capability to handle 90% of banking transactions. The size of this ATM makes it possible for through-the-wall placement, giving bankers and mechanics the ability to have rear access to the ATM. This model is also designed to be a front access lobby ATM.
- The MX8800 Lobby ITM by Hyosung is somewhat similar to the MX8100 ATM. The difference: it is interactive. This ITM has an available touchscreen tablet built-in to the ITM. This tablet can display marketed advertisements, and allows for technicians to have a second screen to make maintenance easier than ever. The MX880 is a rear-access lobby ITM that comes equipped with four cash recycling cassettes, making it branch transformative. It also comes with a standard coin dispenser for those that need exact change, and has one cash deposit cassette.
- The MX8200QTN ITM by Hyosung has many of the same features listed above, but has some eye-catching functionality that help make it a branch transformative ITM. It has four cash recycling cassettes and is able to deposit up to ten checks at once. It can be fitted as a front access lobby machine or a rear wall access ITM. This ITM features a sleek, portrait oriented touch screen designed to make it more useful for all demographics.
The products mentioned above are just a handful of well-oiled ATM and ITMs provided by Hyosung. Regardless of what each machine is capable of, it’s comforting to know that Hyosung does everything in its power to provide customers with useful, reliable, and branch transformative teller machines that can be used for years to come.
In Conclusion
When Wittenbach decided to partner with Hyosung, we knew that we’d be delivering technology that assists with branch transformation and cash recycling across the financial services industry. This is because Hyosung has the largest network of recycling ATMs deployed in the USA, as well as South Korea. With Hyosung’s newest cash recycling models and first complete family of recycling hardware in the industry, Wittenbach can supplement your branch transformation with reliable, modern technology and a return on your investment.
Here at Wittenbach, we aim to provide equipment to make sure your bank or financial institution is running effectively and efficiently. We offer a wide variety of Hyosung ATMs and ITMs full of capabilities that can help your financial institution lower costs, reduce risk, and provide optimal service to your customers.
Contact Wittenbach today for any questions you may have, such as how to purchase and maintain these products, or to schedule a tour of our offices and meet the experts behind the scenes. Let us show you the measurable difference by working with us today.
