Banking
Piraeus Migrates Majority of its ATM Network to Diebold Nixdorf’s DN Series® Cash Recyclers
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Cash recycling technology streamlines operations, reduces costs and improves the sustainability of the bank’s ATM fleet.
NORTH CANTON, Ohio—Diebold Nixdorf (NYSE: DBD), a world leader in transforming the way people bank and shop, today announced a pivotal development in its long-standing partnership with Piraeus, a Greek multinational financial services company. By the end of 2024, Piraeus will have replaced its fleet of more than 1,200 self-service devices located inside the bank’s branches with DN Series® cash recycling ATMs. The ATMs will provide Piraeus customers the ability to conveniently manage their cash while giving the bank a proven platform to move many transactions from inside the branch to the self-service channel in support of its branch transformation program.
In 2021, Piraeus was the first financial institution in Greece to widely adopt automated cash recycling by deploying more than 300 DN Series ATMs. The innovative bank is committed to providing the highest level of customer experience and chose to further invest in the technology by purchasing an additional 928 DN Series ATMs since 2021, including nearly 400 units in 2024. Adopting the trends and demands of banking, the bank will now also offer customers NFC payment capability across its entire fleet, which enables contactless payments.
Cash recycling reduces the bank’s cash management costs by accepting, storing, and recirculating cash deposited in the ATM. Creating a closed-loop recycling environment that automatically moves money through the system provides the additional advantages of extending cash-in-transit (CIT) intervals and drastically reducing carbon emissions throughout the ATMs’ lifespan.
Piraeus, a financial institution deeply sensitive to providing accessible services for customers of various abilities, chose DN Series after highly evaluating its design. Diebold Nixdorf developed its DN Series ATMs with accessibility as an integral part of the design process.
The DN Series ATMs are powered by DN AllConnectSM Data Engine, which leverages the power of artificial intelligence (AI) and machine learning to maximize fleet performance and availability. By analyzing data patterns, trends and leading indicators, DN AllConnect Data Engine can identify an impending failure, triggering a proactive service call to avoid a future outage. This helps decrease the number of incidents, shorten resolution time and guarantee market-leading availability. In addition, DN Series includes enhanced security features to protect from traditional and emerging physical and cyber threats.
Harry Margaritis, group chief operating officer at Piraeus, said: “We are committed to continuously improving the experience we offer to our customers. By adopting a proven cash recycling technology across all our branches, we aim to offer a higher service level to our customers while at the same time improving operational efficiency.”
Joe Myers, executive vice president of Global Banking at Diebold Nixdorf, said: “In today’s banking environment, it’s critical for financial institutions to reduce costs while expanding their offerings for customers. We’re thrilled that every Piraeus branch across Greece will be equipped with DN Series ATMs, providing customers with the latest in cash recycling technology. Our continued partnership with Piraeus further reinforces that frictionless physical and digital experiences should be of paramount importance to financial institutions and their customers across the globe.”
About Piraeus
Piraeus Bank S.A., is headquartered in Athens, and has approximately 7.5 thousand employees. The Piraeus Group’s total assets stood at €76.6billion on 30.06.2024. Piraeus Bank was founded in 1916. Today it represents the leading Bank in Greece in terms of customer loans and deposits. It maintains the largest distribution network in Greece and offers a vast array of financial products and services to 6 million customers.
About Diebold Nixdorf
Diebold Nixdorf, Incorporated (NYSE: DBD) automates, digitizes and transforms the way people bank and shop. As a partner to the majority of the world’s top 100 financial institutions and top 25 global retailers, our integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers each day. The company has a presence in more than 100 countries with approximately 21,000 employees worldwide. Visit www.DieboldNixdorf.com for more information.
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Cash recycling is a technology used in ATMs that accepts, stores, and recirculates cash. This process helps banks reduce cash management costs and improve operational efficiency.
DN Series ATMs are advanced automated teller machines developed by Diebold Nixdorf, designed to enhance customer experience through features like cash recycling and accessibility options.
NFC (Near Field Communication) payment capability allows customers to make contactless payments using their mobile devices or contactless cards at ATMs and point-of-sale terminals.
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