About the Client
Coseba develops and implements integrated hardware and software solutions, primarily for government institutions and the banking sector in the African continent.
National Bank of Angola, as the central bank and issuer, is responsible for preserving the value of the national currency, monitoring and controlling monetary, currency, and credit policies, managing the payment system, and administering circulation assets within the country’s economic policy. Established in 1976.
Implemented Solution
Due to the characteristics of Angola’s financial system, high-denomination banknotes are predominantly in circulation. Therefore, the population often faces significant challenges in obtaining change. In this context, the National Bank of Angola decided to initiate a social project to address this issue.
RENOME SMART was invited as a technological partner to develop a comprehensive product that would simplify the banknote exchange process. We created a kiosk that exchanges high-denomination currency and dispenses funds in the form of banknotes and coins.
Currency exchange takes less than 1 minute
TURNKEY SOLUTION
IMPLEMENTATION STEPS
01. Requirement alignment with the client.
02. Preparation of design documentation and prototype creation.
03. Testing, production, delivery of devices.
04. Device installation, software integration, scaling.
KEY ADVANTAGE
The currency exchange kiosk contains several modules. The acceptance module, similar to those typically installed in kiosks, accommodates 2,000 banknotes. For dispensing funds, it consists of 4 cassettes, each capable of holding 2,500 units. This allows the device to be used for dispensing 4 different denominations.
WHAT THE CLIENT RECEIVED
Thanks to the self-service kiosk associated with cash exchange operations, these processes can be performed without the involvement of bank staff and are available 24/7. It is a fast and convenient customer service, providing a fully autonomous solution for the bank.
DEVICE FEATURES
Simple processes — swift interaction
The banknote exchange process is extremely straightforward and intuitively understandable, allowing users to interact with the device within a span of 30 seconds to 1 minute. In practice, it unfolds as follows: an individual approaches the exchange kiosk, views the available denominations on the screen, selects, and proceeds with the exchange.
Support for new denominations
Given the frequent money issuance in Angola, our partner Coseba and we have commissioned a library for new currencies. Additionally, adaptations for coins have been made to support their new series.
Optimization
By automating the banknote exchange process, our solution transforms it into one that saves time, effort for staff, and resources for the financial institution.
VALUE
The solution can be deployed not only in the financial institution’s branch but also in an office or shopping center, and it can operate independently of the bank’s schedule, even 24/7. This makes it physically more accessible and the procedure more efficient, requiring minimal operational expenses. Thus, it enhances the bank’s customer loyalty.
3 STEPS TO LAUNCH
01. Conducting a presentation
At a time convenient for you.
02. Launching a pilot
Signing the necessary documents.
03. Installing the device
And handing it over for service.
Write to manager