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| Coinstar Announces New Solutions for Financial Institutions Coinstar, Inc., announced a new Coinstar Direct Coin DepositTM service that will allow bank and credit union customers to electronically transfer coin into personal accounts, complemented with Coinstar's new Madison coin-counting kiosk specifically designed for retail financial institution branches. Coinstar's Direct Coin Deposit service and Madison kiosk will be introduced at BAI Retail Delivery Conference & Expo in Las Vegas, Nov. 14-16. Coinstar's new product line has been developed to enhance customer acquisition and retention strategies for financial institutions while reducing the costs inherent with self-service coin counting. Enabled through First Data's STAR Network, Coinstar's Direct Coin Deposit service is expected to be available to banks and credit unions in the first half of 2007. It is estimated that implementing a new technology can take banks between 12 to 18 months to get up and running; the Coinstar solution can be up in weeks, which can significantly reduce implementation costs. For customers, Direct Coin Deposit is easy to use. Customers simply pour their loose change into the Coinstar kiosk, swipe their bank-issued debit card, and enter their PIN number to have the value of the change deposited into their account. A voucher will be dispensed verifying the amount of the transaction. The process is completely self-service and no teller interaction is required. Banks and credit unions offering the service will determine if a fee will be charged to the customer for the transaction. Designed specifically for the bank environment, the new Madison kiosk is Coinstar's smallest and quietest kiosk and can be customized to complement the financial institution's company branding and look and feel. The Madison kiosk comes in two sizes, with the smallest having a footprint of just over five square feet. write your comments about the article :: © 2006 Exhibition News :: home page |