1LINK has entered into a strategic collaboration with Wavetec to introduce a Managed Services Model for Cash Deposit Machines (CDMs), allowing banks to deploy interoperable machines through a more flexible and cost-effective approach. The initiative is aimed at expanding access to cash deposit services while reducing the financial and operational barriers associated with deploying dedicated banking infrastructure.
Under the agreement, banks will be able to use interoperable Cash Deposit Machines without bearing the same level of upfront investment traditionally required for such deployments. The model is expected to support wider CDM availability while giving financial institutions greater flexibility in expanding their self-service banking networks.
The agreement was signed by 1LINK CEO Najeeb Agrawalla and Wavetec General Manager, Financial Systems & Solutions, Aftab Khan. The collaboration brings together 1LINK’s payment infrastructure with Wavetec’s technology and self-service solutions to support banks in expanding access to cash deposit facilities.
The partnership is also expected to improve operational efficiency for participating banks by shifting CDM deployment toward a managed services approach. By making interoperable cash deposit infrastructure easier to deploy, the initiative could help extend self-service banking access and provide customers with more convenient options for depositing cash.
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