LAS VEGAS--(EON: Enhanced Online News)--CTS North America, a market leader in providing financial institutions with branch automation and merchant cash and check processing solutions, announced today at the 2013 AFP Annual Conference the availability of its neo Fast Intelligent Deposit (neoFID), a high-speed, self-service cash and check deposit solution designed to streamline in-branch deposits for financial institutions’ commercial customers.
“The neoFID’s high-speed processing capabilities are ideal for branches that process large volumes of walk-in commercial deposits which can tie up tellers and impact customer wait times”
With advanced engineering, CTS’ neoFID is nearly 40 percent smaller than its existing Fast Intelligent Deposit solution – which is designed for larger commercial applications – but provides virtually all of the same benefits. This means that financial institutions can streamline in-branch deposit operations without compromising the retail footprint. The neoFID strengthens banks’ and credit unions’ cash and check processing by:
- Processing 800 bills and 400 checks per minute;
- Detecting and removing fraudulent checks and cash;
- Scanning and storing each processed check; and
- Providing detailed deposit receipts upon completion of deposit.
“The neoFID’s high-speed processing capabilities are ideal for branches that process large volumes of walk-in commercial deposits which can tie up tellers and impact customer wait times,” said Glen Fossella, COO of CTS North America. “Because of its high speed, high capacity and full self-service operation, neoFID provides a better experience to the commercial depositor while also freeing up branch staff to serve other customers.”
In addition, CTS’ neoFID features a cassette deposit system that can hold up to 5,000 documents and its envelope deposit slot allows financial institutions to more effectively process deposits made in envelopes, such as night-drop deposits in a secure lobby configuration. The neoFID also detects torn or bent documents that would otherwise cause jams, and ejects them during the process. This maintains the neoFID’s high availability to commercial customers.
CTS’ neoFID is a member of its series of cash management solutions, which also includes the FID (Fast Intelligent Deposit) and SID (Smart Intelligent Deposit). From compact remote deposit solutions to multi-function branch/teller systems through streamlined back-office and high-volume devices, CTS’ automation technology adds efficiency across the entire banking enterprise.
About CTS North America
CTS North America is a market leader in providing financial institutions with branch automation and merchant cash and check processing solutions. Its parent company, CTS Electronics, is a global provider of automated systems for payments, document processing, cash recycling and deposits. CTS has more than one million peripherals installed across five continents, including more than 500,000 document readers and check scanners worldwide. Additional information is available online at www.ctsna.com.