Nautilus Hyosung succeeded in localizing a reflux type bill recycling machine (BRM), a long desire of the domestic automatic banking industry, for the first time in Korea. The new ATM models with this applied is planned to be announced officially in November to all banks. The reflux type bill recycling machine is a core part in ATMs which discharges cash that has been deposited into the machine. This device currently relies 100% on imports from Japan and is more than 40% of a complete ATM cost, always bringing along the problem of dependence on Japan each time a new bill is released.
Nautilus Hyosung researched the needs of employees in the banking industry from the design stage, increasing functionality and operation convenience for the domestic environment and succeeded in productizing the BRM with the company’s own technology. ATMs with the BRM applied is planned to enter mass production within this year. The internally developed BRM has been successfully tested and operated in My Cash Zones, the largest CD-VAN provider in the country, located at convenient stores and subway stations nationally. The test operation results have shown considerable satisfaction, and test services will be expanded to all banks within November.
With the success of the BRM development, it is expected that over 100 billion KRW in imports of technology from Japan can be replaced annually. Also, by securing supply and demand stability, active preparation for new large denomination bills is possible.
