Thursday, March 22, 2007

Greek company takes branch security, automation to Romania, Bulgaria

ATHEN, Greece — Mellon Group has announced it is launching branch security and automation solutions in Bucharest, Romania, and Sofia, Bulgaria. During a conference held Feb. 27-28, Mellon explained to financial institutions and public utilities how innovative branch and office solutions can benefit their industries.
Under the general theme 'The Future of Branches: Customer Friendly & Secure,' presentations focused on challenges FIs and other organizations face in the two countries. Since the European Union accession of Romania and Bulgaria, FIs and others with high transactions are dealing physical security policies and infrastructural challenges, Mellon says.

New EU standards, which took effect Jan. 1, require that certain guidelines be met for physical security and insurance. In case of fire, robbery or another disaster, insurance companies are now only liable for valuables kept in accredited areas (e.g., certified safes, deposit boxes, teller-cash recyclers, fireproof cabinets, vaults, etc).
During the conference companies were provided updates about those regulatory changes.
Workshops also touched on the international financial market’s move toward branch automation. The approach emphasizes self-service that incorporates FI employees to improve branch efficiency and cut operating costs.

Mellon also presented advanced-function solutions, such as self-service bill payment and teller-cash recyclers.

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