IBA Creates Currency Exchange Terminal for Belarusbank

On April 25, Belarusbank, the largest financial institution in the Republic of Belarus, unveiled a new innovative service for conducting foreign exchange transactions in self–service mode. IBA Group created the self–service terminal and developed its software.

The first self–service terminal is installed in the Belarusbank branch number 510/392 in Minsk. It allows clients to exchange Russian rubles, US dollars, and Euro for Belarusian rubles using cash in self–service mode. Currency rates set by the bank are displayed on the screen of the terminal. No transaction fees are charged.

The minimum banknote values accepted by the terminal for exchange are 5 US dollars or euro and 100 Russian rubles. The maximum values are 100 US dollars, 200 euro, and 5000 Russian rubles. In order to exchange money, customers are required to insert banknotes and confirm the transaction. The terminal automatically converts the amount into Belarusian rubles.

At the stage of designing and manufacturing of the terminal, IBA Group applied the highest requirements for safety and security. For the first time in Belarus, a unique technology developed by the Japan Cash Machine (JCM) company was employed. If necessary, the terminal captures and stores information on bills and customers who made the transaction.

According to Belarusbank representatives, the main goal of installing the terminal was to automate the process of currency exchange and to improve the quality of customer service at Belarusbank.

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IBA Group provides software development, migration, maintenance, support, and IT consulting services with 3,000 IT and business professionals. Its focus areas are mainframe systems, enterprise applications, web solutions, SAP, BI, and mobile applications. Headquartered in Prague, Czech Republic, IBA Group has offices and development centers in 11 countries. IBA Group serves clients in more than 40 countries across diverse industries, including banking, railway, telecommunication, and manufacturing.