SunTrust bank collaborates with NCR to deploy SMD-enabled ATMs

Deposit cash and cheques at the same time

SunTrust Bank is adding Scalable Deposit Module (SDM) technology to its fleet of ATMs, in collaboration with self-service kiosk provider, NCR Corporation (view press release). SunTrust has installed around 1,200 NCR SelfServ ATMs equipped with SMD technology, which allow consumers to deposit both cash and cheques at the same time through a single deposit slot. In addition to this service, SDM technology enables consumers to deposit up to around 50 checks and notes in any orientation at the same time. SunTrust Bank claims that SMD technology ATMs provide a faster experience at the ATM, helping consumers complete the deposit portion of a transaction in half the time of other ATMs. Another feature is its ability to truncate checks and store them in a safe, which removes the need for daily pick up. The ATMs will also straighten checks and notes, so they pass correctly through the module without slowing down or stopping. This aims to provide alignments for accurate bill validation and check codeline reading – leading to higher availability and fewer jams.

Our research indicates that clients clearly prefer one slot to dual slots when depositing checks and cash. NCR demonstrated to us clear leadership in ATM innovation, especially automated deposit. Our clients are enjoying the speed, convenience and ease-of-use that comes with our new ATMs and we expect to complete the full branch ATM rollout later this year,” said Tom McDermott, SVP of Cross Channel Strategies, SunTrust.

When SDM technology is fully implemented across its footprint, SunTrust expects NCR to be the sole provider of deposit automation ATMs at the bank.

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