Not all that long ago—and perhaps it’s still the case in some corners—bank branches were targeted by cost cutters, who viewed physical space as hopelessly outdated in the digital world. But a problem emerged: “You can only cut so much cost before you basically lose your customers,” says Kerim Tumay, vice president of marketing for Kiran Analytics....Read More

The ATM was born just a stone’s throw from Swingin’ London in 1967. The first drive-thru pulled up moments after “The Great Gatsby,” in 1930. Two technologies, it would seem, better suited for a Time-Life documentary reel than the real demands of today’s life and times. And yet, bank history fans, they persist. For all...Read More

Even as digital banking gains ground, many customers still prefer human, face-to-face interaction for complex products such as mortgages and investments. And while 60 percent of banking customers use digital channels, online banking only generates 25 percent of sales, according to research by McKinsey & Company. Make no mistake: Branches remain relevant. But as with any...Read More

Back when people visited banks as their sole way to deposit paychecks, make large cash withdrawals and move money between accounts, branches were built to portray security and stability. An armed guard, few windows, and tellers tucked behind iron bars or bulletproof glass assured customers their money was safe. The point of branches was either...Read More

Shrinkage remains one of the largest pain points for retailers. Whether you find yourself in front of the counter or behind the counter, shrinkage is an issue that directly affects you. Prior to working in the retail industry, I had no idea what shrinkage entailed or that it costs retailers globally $100 billion USD in annual...Read More

Nowadays you no longer have to use a calculator to sum up banknotes and coins. Cash management technology has rapidly improved in recent years, and now there are several smart solutions for the retail industry. The idea behind Retail Cash Management is to automate the entire cash handling process, from the point of sale to bank deposit....Read More

Reimagine your branch experience and allow your customers to bank when and how they want with ATM Branch Transformation Solutions. How can you free your branch staff from handling traditional transactions to focus on meaningful, more profitable customer conversations? How do you transform your branch into the retail experience your customers want and need, based...Read More

Electronic Mini-Branches containing multiple ATMs and other self-service equipment provide a low-cost way for FIs to grow and expand service without the expense of building and staffing large branches. “The concept of unattended Electronic Mini-Branches with video links to remote customer service and sales staff has been around for over 20 years,” said international retail...Read More

No question about it, today’s customers enjoy the convenience of online banking services. But that doesn’t mean they are ready to part with the nearest branch of their bank. After all, that’s where they go to inquire about loans, explore savings options and rent a safe-deposit box. It’s also where they go to meet face-to-face...Read More

Despite the hype surrounding a cashless society, cash remains firmly entrenched as a payment method and demand for currency is steadily rising. With more than 1.43 trillion U.S. notes in circulation, cash accounts for 55 percent of all in-person payments of $10 or less, and 35 percent of transactions between $10 and $25, according to...Read More