March 20, 2013, Mt. Prospect, IL – Financial institution (FI) technology spending is on the rise – IDC Insights expects North American technology spending to increase to $57 billion in 2013 – and that includes investment in currency and check processing solutions.
Cummins Allison, the leading innovator and provider of coin, currency and check handling solutions, has seen an increased demand for its JetScan iFX® check and currency processing solution among FIs as they make it a priority to replace outdated equipment with highly accurate, upgradable and proven technology.
“Financial institutions have realized the dramatic impact advanced currency and check processing solutions can have on equipment, labor and time savings,” said Frank Janezic, executive vice president, Cummins Allison. “We believe FIs of all sizes have made it a priority to simplify daily activities with a focus on branch-level operational improvements, and this is why our JetScan iFX solution continues to gain momentum. The ability to streamline the entire deposit process and offer clients a more efficient approach to remote deposit capture is an additional reason for the rapid adoption of our JetScan iFX technology.”
Remove Barriers to Branch Capture
According to research firm Celent, branch/teller capture is a technology solution that will see increased adoption in 2013 with an estimated 98 percent adoption rate of branch and/or teller capture solutions within the next two years.
New technology solutions that capture checks at the earliest point of presentment – the teller line – deliver the most efficient form of branch capture. The two-in-one JetScan iFX accommodates branch capture as complete deposits; checks, currency and transaction-related documents can be processed in the back counter or at the teller line in minutes.
Technology also continues to raise the bar in branch capture imaging speed. The JetScan iFX enables tellers and supervisors to image checks more than twice as fast as other scanners without sacrificing image quality, on the same machine that is also the fastest currency scanner in the industry. The time savings are significant and enable operators to focus on higher-quality customer tasks.
Make Daily Transactions Exponentially Faster, More Accurate
FIs that select proven currency scanning and counting technology can replace outdated devices that are underperforming, slowing down simple tasks, and taking time away from customer interaction.
“With the JetScan iFX tellers probably have 25 or 30 percent more time back in their day to complete other tasks; they’re more efficient and productive,” said Joel Serna, teller manager, Rio Bank. “We’re also able to cut down on after-hours work, and costs, because the equipment ensures the vault is always in balance at the end of the day.”
The JetScan iFX increases productivity by processing 1,600 bills per minute, even in the highest volume areas, such as count rooms. With quicker currency scanning speeds, staff tasks become faster, while accuracy remains high as the JetScan iFX ensures incorrect notes are instantly identified and counterfeit notes detected, where other currency scanning equipment might miss.
Using new, highly reliable technology, virtually any branch can now process large quantities of mixed currency in less time than ever before. Cost effective solutions like these help an FI utilize their key personnel where they are needed the most.
For more information on how your financial institution can benefit from advanced currency and check processing solutions, visit www.cumminsallison.com/checks.
About Cummins Allison
Cummins Allison is a global leader in developing technologies which count, sort and authenticate currency. The U.S.-based company has a 125-year heritage of leadership in technology and product innovation and currently serves the majority of financial institutions worldwide, as well as leading organizations in retail, casinos, law enforcement and government. The company holds more than 350 U.S. patents and has ongoing research and development (R&D) investments double the industry average. Cummins Allison is headquartered near Chicago, IL with R&D centers near San Diego, CA and Philadelphia, PA and wholly owned subsidiaries in Canada, the United Kingdom, Ireland, Germany and France. The company also has an extensive sales and service network with more than 50 offices in North America and is represented in over 70 countries. For more information, visit www.cumminsallison.com.
Carol Moore – Vice President Marketing
Cummins Allison Corp.
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