By : Anna Wasicka
July 11, 2017 07:55 AM
Maximizing the efficiency of the branch network is extremely important for financial institutions. Maintaining and managing physical branches can be costly and time-consuming, so your business should be doing everything it can to get these sites to perform as effectively as possible.
There are many strategies you can use to improve branch performance, investing in a modernized cash management solution that will potentially expose inefficiencies in existing cash planning,
Another option is to introduce new processes that will contribute to optimizing cash transactions as well as improve branch efficiency overall. One such example would be the introduction of a cash recycling device that offers clear advantages for banks.
'Hugely successful' in boosting efficiency
Retail Banking Research (RBR) highlighted some of the key benefits banks can gain from cash recycling in its recent report, “Teller Automation and Branch Transformation 2017”. It noted that teller assist units (TAUs) have the potential to reduce the time required to accurately process cash
Looking specifically at cash recycling, the research showed that, in almost all markets, financial institutions are showing a preference for TAUs with cash recycling capability. In the US, more than half of all units are used for dispensing only, as a result of historical deployment.
Recyclers have accounted for an increasing share of TAUs in recent years and this trend is set to continue. By 2021, recyclers are expected to account for 84 percent of all TAUs.
Daniel Dawson, who led the RBR study, said: "Banks continue to value the importance of teller assist units when formulating their branch transformation strategies, as such machines, particularly recyclers, prove to be hugely successful in improving overall efficiency when dealing with cash handling in branches."
Flexibility and versatility
Combining cash recycling with other functions is an example of the versatility of ATMs today. Intelligent deposit machines can help businesses to gain more revenue from transactions and reduce operational
NCR offers extended recycling capabilities through
This provides an insight into the innovation taking place across the self-service banking channel as a whole, which is a hugely significant trend for a number of reasons:
Whatever the future will bring for the branch and the self-service channel alike, we can certainly expect on-going innovation within this sector in an effort to not only