UniCredit Banca, a part of Italian-based commercial bank UniCredit Group, has signed a deal with Diebold to deploy around 970 Opteva ATMs with cash recycling capabilities across its network.

The deal also includes providing ATM hardware and maintenance services for the next three years.

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Of the total number of terminals, more than half will be Opteva Flex Performance Series ATMs that possess deposit automation and full cash recycling capabilities, enabling customer-deposited cash to be reused for future withdrawal transactions.

UniCredit Bank IT support head said adding cash recycling capabilities to their ATM fleet will help reduce operational costs and administrative responsibilities by extending the time between ATM replenishments.

Before accepting the cash, the ATMs are capable of validating deposited notes, detect counterfeits, check note fitness, and sort and denominate cash for dispensing.

Diebold Europe, Middle East and Africa managing director and vice president Dave Wetzel said with cash capacities three to four times higher than standard deposit automation terminals, Opteva Flex Performance Series ATMs enable cash management efficiencies and promote ATM uptime.

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"Coupled with cash recycling capabilities, the higher capacity of the ATMs will reduce staffing needs for UniCredit, as well as third-party courier and service costs for managing and replenishing ATMs," Wetzel added.

Diebold will deploy 210 ATMs including 160 cash dispensers and 42 cash recycling ATMs to UniCredit’s fleet this year.

The company will further deploy 380 ATMs including 130 cash dispensers and 250 cash recycling ATMs in 2014 and another 380 ATMs in 2015.