Frisco Bay Industries Ltd. has formed an alliance with AT&T Global Information Solutions - formerly NCR Corp. - to distribute teller-assisted cash dispensers, known as TellerCash, in the United States.
Frisco Bay will sell the TellerCash product, which is based on the NCR 5175 Workstation Currency Dispenser. Similar to an automated teller machine, TellerCash stores and dispenses cash, but it is used only by tellers, not directly by customers.
When a customer comes into a bank to make a withdrawal, the teller enters a personal identification number on the unit's keyboard to gain access to funds. The teller then types in the customer's account number and the amount being withdrawn, and the unit debits the account and dispenses the money.
No Need to Count Out the Money
The unit "doubles teller efficiency" because tellers don't have to count out money themselves, said Kari D. Rabke, vice president and general manager of Frisco Bay.
The product is used by many large banks in North America, including Amalgamated Bank of New-York, said Mr. Rabke.
Under the terms of the agreement, Frisco Bay will become an value-added reseller for AT&T, and AT&T will refer sales leads to Frisco Bay. Frisco Bay will develop customized application software for the product, and will help connect the dispensers to a bank's existing teller system.
Frisco Bay previously had an original-equipment-manufacturer agreement with AT&T, under which Frisco purchased various components, such as the dispensing mechanism and vault, from AT&T, 'and added a computer and application software. Frisco Bay also marketed the product under its own name.
Under the new agreement, the company is working with AT&T's account teams, and both company logos will appear on the dispensers. Frisco Bay will act as the specialist that sells and supports the units, and will provide training.
The AT&T unit, based in Dayton, Ohio, is maintaining the former agreement with Frisco Bay for countries outside the U.S., said AT&T officials.
The new agreement will enable closer working relationships between the companies' financial customer teams, said Tom Sammon, AT&T director, financial industry alliances in the United States.
Complementary Areas of Expertise
Frisco Bay has cash-handling and software development expertise, he said, while AT&T has experience with bringing systems to banks, he said, thus helping to drum up business for both companies.
Frisco Bay will benefit from "AT&T's market presence and good name in the banking industry," said.
Based in Montreal, Frisco Bay provides automated transaction, time management, and security systems for financial and banking institutions.
The company's products are marketed throughout the United States, Canada, and Latin America.