Diebold Nixdorf announced that BankDhofar is the first bank in the Middle East to utilize its RM4V cash recycling engine in its DN Series ATMs and cash dispensing machines (CDMs). The implementation offers customers additional banking services and is managed in collaboration with CNS, Diebold Nixdorf's partner in Oman. This launch puts BankDhofar at the forefront of customer centricity and innovation.

The DN Series Recycler ATM/CDM has the capacity to dispense 300 banknotes more than the usual 50 banknotes and complies with the Central Bank of Oman's cash and fraud detection protocols. Cash recycling reduces cash management costs for the bank by accepting, storing and recirculating cash that's deposited in the ATM. Creating a closed-loop recycling environment that automatically moves money through the system provides the additional advantages of extending cash-in-transit (CIT) intervals and drastically reducing CO2 emissions.

The RM4V technology optimizes the cash storage solutions within the ATM and is based on a vertical design configuration of the cassettes without compromising the small footprint of the DN series. The cash recycling engine also provides: Multi-denomination capabilities; Larger capacity for more banknotes; More secure transport of banknotes; Flexible configuration options for dispensing, depositing and recycling. One of the most important advantages of the Recycler ATM/CD M/CDM is that it functions like a 24x7 mini cashier, which caters to the diverse needs of individual, medium and large corporate customers.

Apart from NFC-enabled technology that enhances customer experience through secure and convenient contactless transactions, customers can increase their withdrawal limits via the BankDhofar mobile app, thereby gaining access to higher withdrawal. In 2020, BankDhofar also became the first bank in Oman to install DN Series ATMs. The bank's commitment to transformation is evident in its remarkable network expansion aimed at reaching more customers. Starting the year 2022 with 129 ATMs and CDMs, the bank will grow to more than 300 ATMs and CDMs by the end of 2023.

In a strategic move towards a 'phygital' experience, Bank Dhofar also expanded its retail branch network from 52 (at the beginning of 2022) to 130 branches by December 2023. This makes BankDhofar the fastest-growing bank in the region with double-digit growth in both physical and digital sectors.