UAE: Emerico launches its 2nd generation Virtual Smart Machine

Tech-firm Emerico has recently announced the launch of its new Virtual Smart Machine (VSM) at the Middle East Banking Innovation Summit in Dubai. The VSM is a smart banking machine that offers additional features to traditional bank machines like cheque and payment card dispensation.

The new VSM will provide a full range of banking services, such as instant account opening, loan acquisition, cheque issuance, cash handling and debit and credit card dispensation, with minimal human assistance.

According to RFi Group research, ATMs are the most widely used channels of banking interaction in the UAE with 60% of banked consumers using them on a weekly basis to conduct their day-to-day banking activities. The new VSM from Emerico will allow consumers to expand the range of tasks they perform via ATMs potentially leading to greater levels of self-service banking.

Following the announcement, Francis Lai, Managing Director of Emerico, said: “This will support the Smart City vision of the region, and bring a new way of banking that will enhance the customer experience. The launch comes at an opportune time as the banking sector and other customer-oriented industries in the region focus on embracing advanced digital solutions that transform customer service delivery.”

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