DBS Flagship Branch with Wincor Nixdorf’s Innovative Cash Processes
SINGAPORE, Oct. 18, 2012 /PRNewswire/ — Development Bank of Singapore (DBS), a leading Asian bank with 200 branches in 15 markets, is implementing Wincor Nixdorf’s Cash Cycle Management Solutions concept in its newly designed flagship branch in the Marina Bay Financial Center Singapore (MBFC). The completely renovated branch, equipped with 22 CINEO systems from automated teller safes to cash recycling systems, will officially open on Wednesday, October 17, and serve as a blueprint for the bank’s branch network.
As its innovation partner, Wincor Nixdorf has helped DBS develop its new branch concept, implementing a customized model for automating cash processes at the counters and in the self-service zone.
DBS, with more than 4 million customers in Singapore alone, aims to largely eliminate waiting times through modern processes and technologies by accelerating the processing of standard transactions at the counter and thus free up more time for individual customer consulting. In addition, customers will be able to process a number of transactions around the clock in the self-service zone.
Customers and employees alike benefit from simple and quick counter processes. Automated teller safes with recycling functionality take over the time-consuming task of counting and verifying banknotes, significantly reducing the time required by tellers to perform these tasks at the beginning and end of their shifts. In the self-service zone, customers can use state-of-the-art systems for a variety of tasks such as depositing and withdrawing cash in addition to managing their savings accounts.
Following the launch phase, DBS plans to further optimize its cash processes. CINEO systems, with their standardized banknote cassettes, allow cash reserves from deposit-centric teller safes and cash recycling systems to be used to replenish withdrawal-centric systems, thus reducing the time and cost of handling cash.
Koh Cheng Hwee, Head of DBS Franchise, says: “Wincor Nixdorf’s Cash Cycle Management Solution concept ideally complements the bank’s innovation strategy. The early experience from the soft-opening phase shows that we have been able to significantly improve customer service in both the branch and self-service zone with CINEO systems. DBS is looking forward to optimizing cash management in the branch according to the CCMS approach to reduce the time and cost of cash handling.”
Wincor Nixdorf also provides IT services for DBS, comprising first and second line maintenance. The entire IT infrastructure, which consists of 638 DBS multivendor self-service systems, is linked remotely to the control tower (eServices Platform) in Singapore. As soon as problems are detected, targeted measures are initiated to remedy them either remotely or on site. In addition, Wincor Nixdorf provides quality reporting on the agreed service levels. System availability and processing times can thus be significantly improved.
“It was DBS’ desire to innovate and transform their branch banking business that led us to thinking harder and working together as a team to design the solutions implemented at MBFC. The result was a combination of state of the art technology at the counter and self-service areas, practical innovation throughout the customer journey and most importantly, a new way of handling and recycling the cash within the branch environment,” says Ricardos Khoury, Regional Vice President for Banking in Asia Pacific at Wincor Nixdorf.
About DBS
DBS – Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 200 branches across 15 markets. Headquartered and listed in Singapore, DBS is a market leader in Singapore with over four million customers and also has a growing presence in the three key Asian axes of growth, namely, Greater China, Southeast Asia and South Asia. The bank’s strong capital position, as well as “AA-” and “Aa1” credit ratings that are among the highest in the Asia-Pacific region, earned it Global Finance’s “Safest Bank in Asia” accolade for four consecutive years, from 2009 to 2012.
DBS provides the full range of services in consumer, SME and corporate banking activities across Asia and the Middle East. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. This market insight and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. The bank believes that building lasting relationships with its customers is an integral part of banking the Asian way.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 18,000 staff, representing over 30 nationalities. For more information, please visit www.dbs.com .
About Wincor Nixdorf
Wincor Nixdorf is one of the world’s leading providers of technology solutions and services to retail banks and retailers. The company is headquartered in Paderborn, Germany, and is publicly traded on the Frankfurt Securities & Stock Exchange. The company has a global presence in more than 100 countries. For more information, please visit: www.wincor-nixdorf.com .