There’s a lot of redundancy built into the flow of cash within the branch. It makes sense because security and accuracy are paramount. But with the aid of advanced cash recycling technology, you can overcome the redundancy, resource drain and management oversight required by handling cash. And you can increase security and accuracy at the same time.
FASTER AND MORE ACCURATE CASH TRANSACTIONS From the time the teller opens the drawer until the money is accurately counted and in the customer’s hand, a lot of time can pass. With an automated cash recycler, the whole cash transfer—sorting, validating and counting—happens in just two minutes. The question of accuracy is virtually eliminated. With business transactions, the time saved is even more dramatic. Processing a retail bag manually typically takes 10 minutes, but with an automated cash recycler, it takes only two minutes. That’s a time savings of 70%.
LESS CASH EXPOSURE An automatic cash recycler replaces the teller drawer so you can secure all cash within the branch.
Fewer Transactions: The cash recycler takes the place of the two-drawer system, so tellers no longer need to move cash from drawer to drawer throughout the day. Vault buys and sells, which occupy two tellers at a time, are also reduced. In addition, cash recycling cuts the risk and expense of cash-in-transit.
Increased Security: Less cash in circulation on the floor means less risk for cash, employees and customers. Your liability insurance rate could even go down.
Streamlined Staffing: We’ve seen how cash recycling decreases cash exposure by reducing intra-branch transactions. Reducing time and resources spent on teller cash handling, vault buys and sells, and drawer balancing can also streamline your staffing needs. In addition, reducing teller FTE headcount reduces costs for training and hiring.
MORE FOCUS ON THE CUSTOMER When tellers are relieved of the burden of accuracy in counting, they can turn their attention to improving the customer experience. Your staff can spend their time building relationships and upselling and cross-selling products and services.
Implementing cash recyclers can improve existing operational efficiencies and allow for new branch designs that are more open and customer-centric.
Talk to us about how automatic cash recycling can help your financial institution achieve its goals. Our extensive industry expertise can help you and your staff make the transition smoothly. 952-890-6661