Technology/Services

Cash Depot Unveils Bank in a Box

New technology combines cash management, ATM and consumer financial services systems
Bank in a Box
Photograph courtesy of Cash Depot Ltd.

Cash Depot Ltd. has launched its new cash management, ATM and consumer financial services system, Bank in a Box. The technology is designed to provide a versatile cash solution for progressive retailers with unbanked and underbanked consumers by combining smart safe, cash recycler, ATM, and financial services kiosk into one machine, the company said.

“Bank in a Box is a new take on retail ATMs and cash handling,” said Sean Burke, CEO for Cash Depot. “It essentially turns what would usually be a cost center into a profit builder and customer destination.”

The Bank in a Box system leverages a custom-built technology stack on top of the latest in cash and ATM equipment to provide an all-in-one solution for retail locations, the company said. The cash functionality includes, but is not limited to:

  • Start of shift register funds
  • Split bills and pull change
  • Unlimited deposits for intra-day and end-of-shift
  • Real-time, customizable reporting
  • Complete back-end permissions control in the proprietary Bank in a Box portal

In addition to robust store cash management, the standard Bank in a Box application stack includes ATM functionality, multi-denominational transactions, and bank deposits for account holders of participating financial institutions. Many additional revenue-generating applications are in development or already available upon request.

“There are far-reaching benefits and opportunities provided to us and our retail partners by solving a consumer need with Bank in a Box,” said Tony Gaines, chief revenue officer for Cash Depot, “and we are excited to bring this truly disruptive technology to market.”

Founded in 1998, Cash Depot, Green Bay, Wisconsin, is a nationwide financial services, ATM and air/vacuum solutions provider.

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