VakifBank, the seventh largest bank in Turkey, is expanding the functionality of its self-service channel with software and cash-recycling systems from Diebold Nixdorf.

The company will assist VakifBank to upgrade 400 ATMs to improve cash processing efficiency and streamline the introduction of new services, and will support the new systems through a maintenance services agreement, according to a press release.

According to Diebold Nixdorf, the rollout of cash recycling technology can drive down the bank’s total cost of ownership and reduce cash-in-transit visits significantly in the competitive and cash-heavy Turkish market.

“Our ATM network currently comprises around 4,000 ATMs and deposit terminals,” said Ilker Yesil, VakifBank assistant general manager for payment systems and delivery channels. “We expect significant cash-handling savings through the gradual replacement of existing systems with cash recycling technology that has proven itself in extensive tests with regard to performance and availability.”

Diebold Nixdorf cash recycling solutions reflect the company’s 20 years of experience with the technology, said Christian Weisser, Diebold Nixdorf senior vice president and managing director for Europe, the Middle East and Africa.

“Our cash cycle management portfolio offers banks an end-to-end optimization of all branch cash processes through enhanced software and services that give our customers a 360-degree view of their complete cash cycles.”

Diebold Nixdorf, Turkish FI streamline cash management with recycling ATMs