Azerbaijan is now one of the few Caucasian countries, whose residents and guests can use ATMs that not only withdraw and accept cash, but also exchange currency. The Lithuanian banking technology company BS/2 along with its Azeri subsidiary BSKom provided a functional solution for PASHA Bank which is one of the largest commercial banks of Azerbaijan.
PASHA Bank has acquired high capacity (up to 15,600 notes) ATMs, and became one of the first regional bank to which BS/2 offered such capacious ATMs. Normally, banks purchase ATMs holding twice less. In addition, BS/2 provided a unique FCX.iQ software, which allows for direct exchange of currencies, especially for this bank.
"Such orders are extremely rare, since generally it‘s accepted that ATMs are intended solely for dispensing of bills. However, accepting cash and currency exchange are additional services that a bank can offer its customers", says Tomas Augucevičius, BS/2 deputy general manager.
According to Mr Augucevičius, ATMs with a currency exchange function save customers‘ time, since they don‘t need to withdraw cash, and head for the exchange office afterwards – since the ATM immediately accepts and issues cash in the selected currency.
PASHA Bank is one of the leading (being one of the five largest) banks in Azerbaijan. The PASHA Holding LLC that owns PASHA Bank also includes hotels, restaurants, and insurance, construction, investment and tourism companies.