The banking industry is evolving quickly these days, as branches are shifting their focus from everyday deposits and withdrawals from customers in the teller line to more consultative services designed to serve customers better, educate them about financial products available to them and, with a broad brush, transform the branch experience completely.
It's the result, of course, of technology changing the way America (and the world) banks. Gone are the days when you needed to go to the bank to get cash, make deposits, transfer funds or otherwise interact with checking and savings accounts. Now, with ATMs on every street corner, mobile banking putting all things related to your money in the palm of your hand, direct deposit and remote deposit capture negating the need to take your check to the bank every two weeks, banks are migrating large volumes of those basic transactions from the teller line to self service. It's all part of the goal of increasing self-service automation while freeing up staff time for more valuable customer interactions.
But, all of those self-service options don't mean that teller transactions are going away. It means they need to be streamlined and faster, and that means using the most up-to-date technology for the job. Here's how banks can use high-speed currency counters in customer-facing and back-office roles:
Streamline deposit processing directly at the teller stand, allowing tellers to verify and record an entire deposit with a single machine. It reduces processing costs, and improves the teller's productivity and accuracy.
Minimize currency handling by automating back-counter processes, allowing employees to count down ATM deposits quickly, and get that money recirculated back into the bank quickly. They can also use the machines to close out their cash drawers after a shift quickly and accurately.
There's a cost savings in it for banks, in addition to the changed nature of what happens inside the branch. And as teller roles are evolving along with the branch experience, technology becomes a crucial support partner for your bank staff.
Read more about it by downloading a free ebook, A Branch Transformation Survival Guide.
June 21, 2019