Co-op Financial Service June 23 announced it is testing software it developed on an NCR Corp. ATM that supports multiple functions across different institution platforms.
Co-op is testing the software at its Shared Branching Service Center in St. Clair Shores, Mich. Shared branching refers to multiple credit unions sharing physical branch locations to service their members. The software supports envelope-free check and cash deposits, account-balance checks, cash withdrawals, bill payments and funds transfers between accounts.
“The software supports the growing trend towards greater member self-service and gives members increased control over their transactions,” Bill Prichard, a Co-op spokesperson, tells PaymentsSource.
The test represents the second of a three-part pilot. Phase one was Co-op’s Fast Branch kiosk, which enables members to make cash and check deposits without an envelope or deposit slip. The machine also supports loan payment by cash or check as well as loan advances in the same manner.
Phase-three software will have additional features and services compatible with NCR and Diebold Inc. ATMs. Co-Op anticipates that software will be available in 2011.
“Our credit unions will have three options so they can choose what works best for them,” Stan Hollen, Co-op CEO and president, said in a statement.