Tellers can do more.

Are Your Branches Still Using Cash Drawers?

Controlling the cash in a branch costs plenty. The processes of vault-buys and sells, dual control, end of day balancing and counting cash are not efficient and do not add any value to the customer, but are required to keep the cash in the branch secure. The staff of the branch spends almost the entirety of their time counting cash, re-counting cash, buying from and selling to the vault, more than often in dual control. This forces banks to staff their branches to a level appropriate to control the cash, rather than to simply handle the transactional volumes and provide an appropriate level of customer service. The control of cash even determines the type of people banks hire as tellers. Tellers are hired and retained based on how quickly and accurately they can count cash, rather than on how well they can engage customers.

But what is the branch channel really for?

In an increasingly competitive and regulated market, the branch channel offers banks direct face to face contact with their customers to provide the kind of customer service and product information that can make them customers for life. When the problem of controlling cash is solved, a whole universe of possibilities and options suddenly appear to the bank.

Tellers can spend their time engaging customers rather than counting cash and the entire feeling of the branch can change very quickly. The easiest way to control the cash in a branch is through the use of a Teller Cash Recycler, which can automatically count, sort, validate and denominate cash, then store it in a secure vault until it is required to be re-dispensed. Dual control activities such as vault buys and sells are virtually eliminated, as the vault is now distributed to the point of use.

Branches should be a vital and profitable channel; automating the control of cash makes it possible.

Control your Cash. Connect with your Customers.

Visit us at the BAI Retail Delivery Show (Booth 313E in the Self Service Demo Center) to see the next generation of cash recycling and learn how your tellers can do so much more than count and control cash.