Dubai, 11th June 2006 - CR2, a global provider of multi-channel banking software solutions, announces the launch of BankWorld ITM (Intelligent Teller Machine). BankWorld ITM is a new software solution that enhances and revolutionises the services banks can deliver to their customers through existing ATM networks.
Traditionally, ATMs provide customers with access to their accounts for a limited range of services. These services are generic and cannot be tailored to individual client's needs. CR2's BankWorld ITM creates new opportunities for banks to significantly extend and personalise ATM services.
CR2's solution is built around CR2's Flexible Transaction Engine which gives banks the freedom to define their own transactions. This engine enables a bank to define the information it wishes to present to the customer at the ATM. Banks can also tailor the customer's screen and present specific marketing messages, product sets and customer information based on the profile of the customer.
ATMs, using CR2's BankWorld ITM software, can now for example display the details of the last use and offer the most frequent transaction on the first screen, and then move on to offer loan facilities or car insurance on the next screen.
BankWorld ITM allows banks to properly service and sell to its customers during the 66% of the customer's bank transactions which occur at the ATM. Now, a bank can better promote itself and partner's products and services - bringing CRM directly to the ATM.
"Until now, ATMs have not even been able to distinguish the customer's preferred language," said Martin Dolan, CEO, CR2. "With BankWorld ITM, CR2 is reinventing the way the bank interacts with its customers."
Cairo Amman Bank
Cairo Amman Bank, a CR2 customer since 2004, is an early adopter of the technology. The bank wanted to offer its customers pre-approved loans. And so, working with CR2, it has launched an "Instant loan" facility via the ATM.
A pre-approved customer is offered the loan at the bank's ATM. They then have the ability to choose the required amount as well as the repayment period. Once the loan has been accepted by the customer, the cash can be withdrawn from the ATM immediately.
"This service has been hugely successful," said Omar Yacoub, Chief Information Officer, Cairo Amman Bank. "Customers can now obtain loans 24 X7. The significantly reduced cost of loan processing via the ATM has also enabled us to reduce the minimum value of the loan we can offer, further driving demand for the product. A quarter of all our loans are now sold through the ATM network."
Martin Dolan, CEO, CR2 added: "A bank with a network of 100 ATMs will generate 10 million targeted CRM opportunities per year. We expect the release of this software to fundamentally raise the bar for service provision at ATMs in every market in which this technology is introduced."