3 Reasons to Implement Teller Cash Recyclers
Teller cash recyclers have gained a lot of popularity over the last few years. Cash recycling machine technology has greatly improved from the days of cash dispensers to today's machines of complete recycling technology. Teller Cash recyclers, or TCRs, have become a vital piece of branch automation equipment, that improves efficiency, reduces operating costs, and increases branch safety.
Increase Branch Efficiency
TCR's verify, count, and sort all notes coming into the branch which reduces the repetitive tasks that the teller staff must handle with each transaction. This allows the front line staff to focus more on the customer, and replace transactions with interactions. The tellers now have more time to focus on offering more products and services to the customers that come into the branch. Teller Cash Recyclers have many time saving benefits assisting with repetitive note handling tasks and audits, which can lead to making a branch 72% more efficient on time savings alone. With integrations becoming more powerful, TCRs are able to directly integrate with the teller software allowing the machine to operate alongside the teller without steep learning curves, which makes implementing TCRs much easier and quicker.
TCRs Offer Increased Security
Teller Cash Recyclers offer the convenience of readily available cash with an increased level of security as a standard vault. TCRs hold the cash in a secured safe, that is monitored by the alarm for any tampering or opening of the safe. Cash does not need to be moved into the vault during end of day procedures and a full audit is available for cash deposits and withdrawals. TCRs reduce the need for expensive vaults, teller lockers, and cash lockers by migrating that cash storage to the machine that is available for the branch staff to to use immediately. Not only is the physical storage of the cash secure, but there is also electronic tracking of every dollar that is removed from the machine, which makes cash handling more secure in the branch.
Allows for New Branch Model
Financial Institutions have redesigned the traditional branch. Teller rows have been traded for pods; large branches have downsized to smaller branches; and new technology has changed the way the traditional branch is designed. The introduction of the TCR has assisted the redesign of traditional branches. Teller cash recyclers allow for branches to incorporate a pod design instead of a traditional teller row. Since cash can be stored securely in the middle of the pod, branches can use an open branch design to be more welcoming to it's customers. With the redesign in branches, came a new staffing model to incorporate a universal banking model, where the staff can handle multiple tasks. A universal banker can assist someone in opening an account and then use the TCR to also deposit cash for the customer. The TCR allows for anyone in the branch to have access to help the customers through a transactions as long as they are a user within the software platform. With the introduction of new technology, such as a TCR, branch models with continue to evolve to suit customer needs.
For more information about TCRs, check out Benefits of TCRs
TCRs are a great way to increase efficiency and security in the branch. With many advantages and technological advancements, Financial institutions have started to turn to TCRs to reduce operating costs in the branch within an overall branch automation strategy. If you'd like more information on how TCRs can benefit your institution, reach out to us here.