Mellon Bulgaria recently introduced the latest in ATM technology to potential customers in Sofia, featuring the advanced ATMs from Korean manufacturer Hyosung TNS. Renowned for their leadership in markets such as the US, South Korea, and Indonesia, Hyosung ATMs are among the fastest growing in the industry.
Pioneering Technology in Bulgaria
Mellon Bulgaria highlighted the innovative "recycling" feature of Hyosung ATMs, a novel concept for the Bulgarian market, supported by software from KAL, the world’s leading provider of ATM software. This functionality allows the machines to dispense money deposited by customers, significantly enhancing efficiency and reducing the frequency of cash replenishments. Currently, such ATMs are rare in Bulgaria, marking a significant advancement in the country’s banking technology.
Strategic Partnerships and Market Integration
Building on successful integrations in Poland and Greece, Mellon Bulgaria sees potential in expanding Hyosung’s presence in the local market. The company has opted not to certify the machines for handling deposits of Bulgarian levs, focusing instead on the upcoming transition to the euro. "We believe it’s not worth the investment to certify these machines for Bulgarian levs, given the imminent euro adoption," said Borislav Arsov, Managing Director of Mellon Bulgaria. The devices are already certified for euro transactions by the European Central Bank, ensuring a smooth transition when the euro is adopted.
Leveraging Advanced ATM Software Solutions
Mellon Group incorporates KAL’s advanced ATM software application (K3A) and ATM management system (KTC). These solutions are compatible with hundreds of ATM models from over 40 manufacturers, including Hyosung. This approach ensures flexibility in choosing the best ATM hardware to meet current and future business needs.
With the introduction of Hyosung’s industry-leading Series 8 ATMs, Mellon Bulgaria is adopting cash recycling technology to streamline productivity and drive greater efficiency in self-service operations. These innovations will enhance branch cash operations and allow personnel to focus on high-value tasks, providing a more personalized customer service.
Insights from Hyosung TNS Europe
Jay Won, Managing Director of Hyosung TNS Europe, shared insights on the company's expectations for the Bulgarian market. "This is a promising new market for us. Our focus is on gaining the trust of Bulgarian clients, which will naturally drive sales and market growth," said Won. He emphasized the industry shift from dispensing to recycling ATMs, a trend Hyosung has pioneered for over a decade. This technology is key to optimizing maintenance costs, particularly in regions like Europe where labor costs are higher.
Looking Ahead
As the financial landscape evolves towards a more cashless model, cost optimization remains a priority. The recycling feature of Hyosung ATMs addresses this by reducing operational expenses, aligning with broader trends in the European market.
Conclusion
Mellon Bulgaria’s event in Sofia marks a significant step in bringing cutting-edge ATM technology to the Bulgarian market. With the support of Hyosung TNS, Mellon Bulgaria is poised to lead in financial innovation and efficiency.
About Mellon Technologies:
Founded in Greece in 1994, the Mellon Group of Companies operates in 11 countries, generating around 240 million euros in revenue last year. The company employs approximately 85 programmers, primarily focused on POS terminals and ATMs. Mellon Bulgaria, established in 2001, continues to play a crucial role in the group’s regional operations. With a history of innovation spanning 30 years, Mellon Group is dedicated to shaping the future of banking through advanced solutions.
About KAL:
KAL ATM Software (est. 1989) is a world-leading ATM software company and the preferred supplier for global megabanks. The company specializes in software solutions for ATM networks of all sizes and complexities – allowing banks to gain control, reduce costs, increase functionality, and improve competitiveness.
About Hyosung TNS:
For over 40 years, Hyosung TNS Inc. has strived to keep its commitment of being innovative and customer-centric in various fields of financial solution business by continuously putting efforts into research and development. Since 1979, Hyosung TNS has partnered with the top global banks and financial institutions to deliver truly reliable banking convenience, enjoyable interactions to improve the everyday for everyone and continues to make history with each new innovative solution.
