ATM Cashier's Check Functionality from Rototype Seals the Gap in Unmanned Bank Branch Automation

NEW YORK, June 11, 2013 /PRNewswire/ -- Rototype International unveiled its new ATM, the CJD 8000 Cashier's Check machine to a gathering of bank executives at its Wall Street showroom in New York today.

(Photo: http://photos.prnewswire.com/prnh/20130611/PH29653-a)

(Photo: http://photos.prnewswire.com/prnh/20130611/PH29653-b)

This machine is specially designed to help bank branches pursue cost efficiency measures by automating low-value transactions over the ATM channel. Whilst it is normal to see a cash dispenser, cash and check deposit machines in branches, cashier's check machines remain to be a rare offering.

Traditionally, cashier's checks are dispensed over the teller, consuming resources that otherwise could be deployed for other relational building tasks. Alternatively, checks are also dispatched over the mail via branch processing centers; however this method also persists to incur unwanted logistical costs and overheads.

There are banks that feature pre-printed cashier's check machines, exposing the payment instrument to security issues. Moreover, banking customers are increasingly becoming technology savvy, expecting to conduct most banking transactions via the mobile and internet channels.

Rototype's solution facilitates multi-access approach for added customer convenience – Check request and purchase can now be done via mobile devices, internet or at the ATM using Rototype's intuitive web-enabled software.

Upon successful purchase via mobile devices or the internet, check collection is done by presenting a QR code received on the purchaser's mobile device at the machine's scanner.

Harres Tan, CEO of Rototype America explained, "Our unique security feature ensures all check content are printed on-demand, including security control elements such as MICR code and encrypted digital signature that are issued by the bank's host computers in real time." 

"This unprecedented technology of printing on-demand eliminates possibilities of fraud such as theft of pre-encoded checks from the machine during machine maintenance," Tan added.

Upon receiving a check, the payee is also able to verify its authenticity online, by decoding the printed digital signature using Rototype's mobile app.

Similarly, the bank's processing centers would dramatically reduce the time needed to verify check authenticity by integrating Rototype's decryption routines to their Cheque Verification System (CVS) software.

With the implementation of Rototype's new ATM, banks will now be able to complete their unmanned branch strategy along with other traditional ATMs and focus their efforts on building higher value relationships with their customers.

The CJD 8000 Cashier's Check machine is certified EMV Level 2 and ADA compliant, ready for immediate deployment in the US.

About Rototype International
Rototype International is a global self-service banking solutions provider facilitating electronic payments of merchandise at shopping malls via its shared Cashless ATM. It is the designer of the Cashier's Check Dispensing ATM and the Bundled Cash / Check Deposit ATM. The company provides outsourcing services with schemes such as "pay-per-use" and "all-inclusive" lease/rental. These include check collection, back office check processing and 24/7 management of self-service machines deployed by banks. Additional information may be found at www.rototypeintl.com | YouTube: www.youtube.com/rototypeint1

Media Contact:
Vanessa Tan
T: 1-212-252-2086
Email

This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.

SOURCE Rototype International

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