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Bank scoops top innovation award thanks to the KAL RTM

KAL’s RTM has secured an innovation award for Malaysia’s Hong Leong Islamic Bank.

The Asset’s Triple A Digital Awards recognise financial institutions and technology firms that have excelled in innovating and developing a unique digital experience for customers across the Asia-Pacific region.

This year’s Most Innovative ATM Project award was given to Hong Leong Islamic Bank for its creative use of KAL’s RTM whereby the bank’s customers use the RTM to make religious charitable payments.

For the first time, Muslims in Malaysia have been able to pay their annual charitable fee - known as Zakat - using a debit card at the RTM, rather than cash. Government organisation Zakat Selangor was previously collecting all of the money in cash, which meant large volumes of cash being held on site. The government’s cashless program has encouraged the organisation to use the RTM to collect these funds via debit cards.

Christopher Martin, of Hong Leong Bank, welcomed the award, saying: “Congratulations to everyone who was involved in the cashless ATM project.”

Online magazine The Asset is Asia’s leading financial publication for issuers and investors.

News

Bank scoops top innovation award thanks to the KAL RTM

KAL’s RTM has secured an innovation award for Malaysia’s Hong Leong Islamic Bank.

The Asset’s Triple A Digital Awards recognise financial institutions and technology firms that have excelled in innovating and developing a unique digital experience for customers across the Asia-Pacific region.

This year’s Most Innovative ATM Project award was given to Hong Leong Islamic Bank for its creative use of KAL’s RTM whereby the bank’s customers use the RTM to make religious charitable payments.

For the first time, Muslims in Malaysia have been able to pay their annual charitable fee - known as Zakat - using a debit card at the RTM, rather than cash. Government organisation Zakat Selangor was previously collecting all of the money in cash, which meant large volumes of cash being held on site. The government’s cashless program has encouraged the organisation to use the RTM to collect these funds via debit cards.

Christopher Martin, of Hong Leong Bank, welcomed the award, saying: “Congratulations to everyone who was involved in the cashless ATM project.”

Online magazine The Asset is Asia’s leading financial publication for issuers and investors.

Hong Leong Islamic Bank unveils KAL’s RTM for accepting charitable donations

Hong Leong Islamic Bank and Zakat Selangor Malaysia have held a ceremony to officially unveil KAL’s Retail Teller Machine (RTM) which is being used to make religious charitable payments.

During the ceremony, Zakat Selangor Malaysia was presented with cheques totalling around $1 million from local organisations. These Zakat payments were later distributed amongst those living in need in Selangor state.

The introduction of the RTM means that, for the first time, Muslims are able to pay their annual charitable fee known as Zakat using a debit card, rather than cash.

Zakat Selangor was previously collecting all of the money in cash - as these payments are normally made during the month of Ramadan, this meant large volumes of cash were being held on site at this time. The government’s cashless program has encouraged the organisation to use the RTM to collect these funds via debit cards.

The ceremony, which was attended by a number of local businesses and local organisation representatives, received a great deal of media coverage, with local newspapers and TV channels reporting on the event.

hong leong bank charity

RTM Launch In Indonesia

Representatives from Indonesia’s top banks were in attendance as KAL introduced the RTM at two hugely successful events in Jakarta recently.

KAL CEO, Aravinda Korala, and KAL EVP of Sales, Steve Hensley, showcased the ground-breaking cashless ATM with British Ambassador, Mark Canning, also giving a speech.

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Cashless ATM to change face of branchless banking

Global ATM software company, KAL, today launched the Retail Teller Machine (RTM): a revolutionary cashless ATM which is set to transform branchless banking forever.

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'RTMs transform banking channels' at Middle East ATMs 2014

KAL recently exhibited at Middle East ATMs 2014 held December 8th-9th at the Radisson Blu Hotel, Dubai Deira Creek, UAE.

At the conference KAL CEO Aravinda Korala presented “RTMs transform banking channels”. As banks strive to improve the experience for customers and cut branch costs, this presentation discussed how to deliver banking services at one tenth of the cost of an ATM, while at the same time providing an integrated banking system including a full set of ATM transactions, access to a bank’s website, and a range of additional transactions including bill payments.

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Sky News Interview

KAL’s Retail Teller Machine (RTM) was recently featured on Sky News Australia, as global interest in the new RTM product soars.

Steve Hensley, Executive Vice President of Global Sales, was invited on to the station’s Technology Behind Business show to explain the ways in which branchless banking will be revolutionised by the cashless ATM.

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RTM transforms branch banking

Branch banking is set to be transformed by KAL's revolutionary new cashless RTM. As banks strive to reduce costs and improve customer service at the branch, KAL believes that RTMs are the way forward.

RTMs are low-cost authorisation-machines that are ideal for in-branch use. The customer can take his time to browse the bank’s services, read any available targeted messages, speak to a video teller and make a final transaction selection without pressure, and then commit his choice to a secure ticket. This ticket can then be fulfilled in a few seconds, either automatically at a Teller Cash Recycler/ATM or manually at a teller. - Aravinda Korala, KAL’s CEO

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ENCASH showcases RTM in the Philippines

KAL customer, ENCASH, recently showcased the RTM at the Rural Bank Association of the Philippines’ (RBAP) 60th annual convention in Manila.

The event took place on June 10-11 and featured an RTM booth within which attendees could view demonstrations or try out the device for themselves.

ENCASH is the first independent ATM deployer in the Phillippines and counts around 150 of the country’s 500 rural banks as customers. It owns and runs over 300 ATMs in rural locations across the region.

As the RTM operates at one tenth of the running cost of an ATM, ENCASH believes it has huge potential in the Phillippines and was absolutely delighted with the response of those who visited the booth, particulary when its president, Eric Serverino, showcased its potential with demonstrations for current customers.

KAL was represented at the event by software engineer, Grace Uy, and Southeast Asia sales manager, Sharath Padmalochanan.