Allied Bank Introduces Pakistan’s First Cash Recycling ATMs

To further enhance the banking experience of its customers, Allied Bank has entered into a strategic partnership with Rayyanco Business Systems and introduced Pakistan’s First Cash Recycling ATMs, which are duly approved by the State Bank of Pakistan (SBP). The inauguration ceremony was held at Allied Bank’s Head Office, Lahore, and was attended by senior management of the collaborating parties. Cash Recycling ATMs accept cash deposits by customers and instantly sort and authenticate them for disbursement to other customers, thus, making cash management quick and automatic. Speaking at the occasion, Sohail Aziz, Chief Digital Banking Group Allied Bank, said, Speaking at the occasion, Muhammad Ashraf Ahmed, Chief Executive Officer of Rayyanco Business Systems, said, ABL is one of the leading banks in Pakistan, having a network of over 1,425 online branches & 1,500+ ATMs in Pakistan and offers various technology-based products and services to its diverse clientele. Rayyanco was established in 1986 to bring the latest technologies to financial institutions in Pakistan. Rayyanco introduced Pakistan’s first Card Personalization System in 1996, First Chip EMV Card Personalization in 2004, and is a leading supplier of EMV cards, Cash Management solutions, Introducer and supplier Smart POS, and Cash Recycling ATM in Pakistan. As a leading company in Cash Recycling ATMs, HCS has created and globally deployed innovations leading to greater efficiency and improved service for financial institutions and other customers and users, including establishing a culture of banknote recycling in many countries and regions through cash recycling ATMs.