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RBR report: Glory owns largest share of teller assist market

Fifty-nine of every 100 teller assist units currently installed around the world were manufactured by Glory Global Solutions, according to the latest teller automation and branch transformation report from the London-based strategic research and consulting company RBR.

Additionally, a Glory press release said, the report shows that the company has expanded its market share for teller cash recyclers from 50 to 52 percent since 2013.

The report by RBR found that factors of efficiency, security and accuracy in continue to drive TAU deployment as a preferred alternative to manual teller systems. Banks have increasingly applied teller automation in branch operations as a cost-control measure, the release said.

The report, which looked at TAU installations up to the end of 2014 and forecasts to 2019, found that there were 178,800 TAUs installed worldwide as of last year. Of these, 61 percent were recyclers and 38 percent were dispensers, the former having seen a compound annual growth rate of 9 percent since 2010. RBR predicts that the number of TAUs installed globally will increase to 212,800 by the end of 2019 (a compound annual growth rate of 4 percent).

The two largest markets for TAUs continue to be the USA and Spain (26 percent and 20 percent of the global market respectively), but it is expected that Italy will overtake Spain as the second largest market by the end of 2019.

“The increasing popularity of Internet and mobile banking and the consequent fall in the numbers of branch visits, along with wider cost pressures, are driving transformational changes in banks’ branch strategies,” said RBR Managing Director Dominic Hirsch. “RBR’s latest report shows that these new style branches have increased the business case for TAUs.”