By : Cleopatra Mavredis
August 01, 2017 08:00 AM
We are in the midst of some exciting and eye-opening changes in the retail banking industry. Concepts like automation, machine learning and big data analytics all have the potential to make huge differences to how banks operate, possibly opening up new efficiencies, cost reductions
All this innovation is exciting, but from a consumer
One of the most powerful ways to deliver genuine value
To ensure that your self-service network - in particular your ATMs - is functioning as efficiently as possible, you need a strong cash management strategy. This is where a solution such as NCR OptiCash from the OptiSuite portfolio can prove not only invaluable to your cash planning teams but also provide that 'hidden' insurance in avoiding cash outages. NCR is particularly proud this year to be celebrating 25 years of continued success and evolution for OptiSuite.
End-to-end cash management
One thing many banks are striving for in their cash management efforts is holistic, end-to-end visibility into the movement of cash throughout their self-service network. You want to be sure that you are managing and distributing cash with maximum efficiency and minimum waste of time and resources. That extends all the way from vault holdings and the cash-in-transit stage to your branch network and customer endpoints.
At the heart of all this is data. By using dedicated solutions to analyze and understand the wealth of data at your disposal, you can achieve cost and efficiency benefits for the business and guarantee the best possible availability for customers.
For example, historical ATM and cash demand data, combined with seasonal trends, events
To manage your self-service network as effectively as possible, you need to have clear strategies and solutions every step of the way. That includes orders and deliveries. If you have maximum oversight and control over the ordering and logistics side of cash management, the risk of problems such as cash outages caused by sudden spikes in demand will be significantly reduced.
Getting maximum value from self-service
The ATM marks its 50th anniversary this year, so self-service banking is clearly not a new phenomenon. But there is a strong argument to be made that, as the industry continues to evolve over the coming years, the self-service channel will become more important than ever.
Customers want independence and convenience. In most cases, people want to complete simple banking tasks as quickly and easily as possible, without having to go into a branch or wait in a line.
Didn't the ATM begin the 'digital' banking revolution? I strongly believe it did and therefore, keeping cash readily available at just the right cost, will undoubtedly make for a happier customer. ATM technology has come a long way since the first ATM was installed in 1967, but most importantly today's banking customers expect uninterrupted service. Make sure that your cash management tools have the ability to align and protect your branch transformation strategy.