AbsoluteINTERACT: FS Vendors’ Product of the Week

Please give a short bio of your company

Absolute Systems is a niche solution provider to the financial services industry. Our core competencies include the development and management of large scale self service deployments such as:

– corporate cash deposit solutions
– ATM / self service networks
– Teller Cash Recycler networks
– Volume transaction switching

Absolute Systems is a preferred supplier to all major banks in the South African market and we are also a Fiserv reseller in country.

What is your product or service?

Absolute Systems has developed a holistic suite of complementary products designed to enhance the management of cash distribution. Our suite includes:

– AbsoluteINTERACT – a Business Process development toolkit for XFS based devices that controls all device interactions, host comminucations and user interactions.

Why would a bank or credit union use your product/service?

Our hardware agnostic approach allows banks to be flexible in terms of hardware selection without compromising on their software platform. Brand identity is key to all good marketing and ensuring that all devices are running the same software platform enhances the brand awareness of the institution. This, along with the extensive experience our team brings to the table, makes for a compelling and attractive option.

Who is your competition, and what do you do better?

Typically our competitors are the major hardware vendors who are looking to provide a bank with a turnkey solution. Our competitive edge is the fact that we maintain a completely agnostic view on hardware and as such maintain a flexibility that is attractive to banks.

When was the product/service officially launched?

The first installation of INTERACT was in 2002 at ABSA bank in South Africa. This was deployed on a 5000 device network.

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