China Merchants Bank selects NCR Dynamic eLock management solution
Software offers the bank’s ATM network nationwide a new level of speed and security when replenishing cash and carrying out service maintenance
NCR Corporation, the global leader in consumer transaction technologies, announced that China Merchants Bank (“CMB”) has selected NCR Dynamic eLock Management solution, a software-based automated teller machine (ATM) electronic key management solution, to help the bank centralize the management of safe box keys and passwords across its over 10,000 unit ATM network.
Specially designed for the China market, NCR Dynamic eLock management solution restricts the access to an ATM’s safe boxes to only authorized users with an IC (integrated chip) smart key and a one-time password. The software solution will help the bank improve the related risks, efficiency and costs issues brought by traditional manual ATM locks during cash replenishment and while conducting service maintenance.
Although all ATMs of CMB are non-NCR branded, NCR Dynamic eLock Management Solution is multi-vendor compliant, which can support various safe standards and different types of locks. The solution can easily connect with the bank’s cash management system and monitoring system for easy upgrade and development. NCR will customize development and implementation of the solution. It is expected the solution will be live nationwide by the end of this year.
“With NCR’s deployment track record in Dynamic eLock management projects, we are excited in gaining the recognition from China Merchants Bank by working with us for the first time. We will ensure the smooth implementation of the system to achieve a higher level of security for the bank’s ATM and cash,” said Gary Miao, president of NCR Greater China for Financial Services. “The benefits brought by Dynamic eLock Management solution are able to meet the compliance needs for mitigating the risks of centralized management, and we believe that it will gradually replace the traditional manual ATM lock and password management mode.”
In the past, CMB used to deploy mechanical password locks where each lock was required to pair up with a mechanical key and password. The manual dissemination and management of the keys and passwords has generated high operational costs during cash replenishment and carrying out service maintenance at the ATMs. In addition, risks and costs were involved at the time of password change and key storage.
NCR Dynamic eLock Management Solution effectively eliminates the three core security issues of centralized ATM management which include risk defense, work efficiency and inspection. Electronic smart keys embedded with IC cannot be read without authorization, which can eliminate the risk of key replication. In addition, it is no longer necessary to change safe box lock password regularly, which will relieve a significant amount of work for bank staff. In the event of staff shift change, the bank only needs to change the setting on the system without having to go onsite and reset the password of a particular ATM maintained by that staff. The solution will also generate a comprehensive journal and analysis report, offering bank management a transparent view of the process, as well as an immediate understanding of the entire system’s operation.
About China Merchants Bank
Established in 1987 with headquarters in Shenzhen, China Merchants Bank (“CMB”) mainly focus on the China market. On 9 April, 2002, CMB was listed at the Shanghai Stock Exchange (A Share Stock Code: 600036). On 22 September, 2006, CMB was listed at the Hong Kong Stock Exchange (H Share Stock Code: 3968) government.
As of 31 December, 2013, CMB has 99 branches and 934 sub-branches in more than 110 cities, 2 branch-level specialized agencies (the Credit Card Center and the Small Enterprise Credit Center), 1 rep-office, 2,174 self-service banks and 1 wholly-owned subsidiary (CMB Financial Leasing Co., Ltd) in mainland China. For overseas market, CMB has 2 wholly-owned subsidiaries — Wing Lung Bank Ltd. and CMB International Capital Corporation Limited and 1 branch (Hong Kong Branch) in Hong Kong, a branch and a rep-office in New York, and two rep-offices in Taipei and London.
For many consecutive years, CMB has been ranked among China’s top commercial banks according to comprehensive assessment by CBRC. The bank has won a number of titles, including the Best Commercial Bank of China, the Best Retail Bank in China, the Best Private Bank in China, China’s Best Custody Specialist from the British Financial Times, Euromoney and The Asset. The Bank was shortlisted as a World-Class Chinese Brand and ranked No. 1 in the P/B list of the world’s top 50 banks with the largest market value by the British Financial Times. It was also listed No.60 among the world’s Top 1,000 Banks by The Banker.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 485 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with approximately 29,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.
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