Russia-based retail lender VTB24 Bank has selected NCR SelfServ cash recycling functionality, as part of its ATMs modernising plan to reduce operational cost while boosting availability of its network.

VTB24 believes that the modular self-service systems will enhance the quality and reliability of service and make everyday financial transactions more convenient for customers.

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Following approval for cash recycling feature by the Russian Central Bank in early 2013, VTB24 has upgraded 65 of the existing intelligent deposit ATMs within its network to recycling functionality in Moscow and St Petersburg.

The cash recycling ATM, which dispenses cash deposited by one customer to the next customer withdrawing money, has enabled VTB24 to free up its tellers to deliver better customer service and engage new clients.

Additionally, this new technology has enabled VTB24 to decrease the number of monthly visits from CITs by half as the ATM does not require to be replenished as often, thereby reducing costs for cash collection.

VTB24 self-service network head and vice president, Aleksey Degtyarev, said: "The implementation of cash recycling functionality will allow us to reduce operational expenses of our ATM network as the number of replenishments will be decreased.

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"Also, the ATMs don’t have to be carried to the plant but are upgraded in the branch. As a result, our customers profit from higher network availability."

VTB24 has plans is to upgrade its more than 100 units in other regions of Russia and to purchase additional cash recyclers throughout 2014.