Australia and New Zealand Banking Group (ANZ) and US-headquartered self-service solution provider NCR have entered a five-year agreement with the aim of transforming the lender’s ATM network with "next generation" intelligent deposit ATMs.

ANZ plans to introduce 800 NCR SelfServ ATMs into branches, enabling 24-hour access to many traditional teller services. With a scalable deposit module (SDM), NCR SelfServ is, reportedly, the world’s only ATM that can accept, count and process cash and cheques simultaneously in one transaction, reducing the time for a typical mixed deposit to less than 60 seconds.

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Many of these new ATMs will also take loose coin deposits, according to NCR.
The agreement is in line with ANZ’s recently announced "Banking on Australia" initiative – a major investment project for its Australian business designed to make it "easier for Australians to bank with ANZ".

Earlier in October, ANZ announced plans of investing up to $1.5bn for a tech investment programme to "overhaul" its branch-based and digital distribution channels, in an attempt to "simplify products and services", as part of the "Banking on Australia" initiative.

Mark Hand, managing director, ANZ retail distribution, said: "We will be progressively introducing 800 of NCR’s next generation intelligent deposit ATMs from mid-next year, providing our customers with 24-hour access to many transactions that are traditionally done in branches such as providing instant value for cash or cheque deposits.

"This investment means that we can more easily bring in other forms of new technology such as contactless or cardless transactions to continue making banking easier for our customers."

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ANZ’s use of NCR’s technology is "an investment in its customers and a strong step towards making banking in Australia more convenient", according to Ross Checkley, managing director of NCR Australia.