Self-service coin counters help banks improve customer touch points
For banks to personalize their offerings for their customers, self-service coin counters are key tools. While it may seem counterintuitive to have a machine handling more of the services traditionally provided by in-person tellers, automating some of these services gives other financial services staff more time to address customers' needs with greater depth.
According to Bank Systems & Technology, technology has transformed the ways consumers expect to interact with all businesses, let alone retail banks. With services like Amazon Prime and Netflix, which personalize virtually every touch point that customers interact with, consumers now feel that most competitive businesses should be able to deliver an experience that addresses their unique needs.
However, a Cisco survey found that 43 percent of bank customers don't believe their bank truly knows them. More than 3 in 10 of the 603 respondents said they'd consider alternative banking services because their current bank isn't doing enough to provide them with the services they want.
In some respect, this problem arises from the fact that most banks only look at transactional data to figure out what their customers need. On one hand, this needs to happen by tracking customers' behaviors online and offline.
Create more space for staff to engage customers
Cummins Allison self-service coin counters are able to sort 4,000 coins to per minute, which is a benefit to retail banks for multiple reasons. First, the machines give tellers a chance to handle more customers who have more complicated financial services needs or direct them to other personnel. Second, the coin counters are often equipped with screens that allow patrons to manage their banking needs while they deposit or exchange their loose change.
Banks can leverage both the transactional information of customers interacting with these machines and behavioral data stemming from conversations with in-person tellers to identify the services that may benefit patrons in the future. Because staff members doesn't have to sort change, they have more free time to engage customers and personalize relationships.