Self-service coin counters add a dimension of convenience that banks can leverage to make their branches more attractive. The strategy driving the use of branch offices by financial institutions is in a period of development and change, with recent consumer preferences and visitation patterns indicating that old approaches aren't as effective as they once were. With banks looking to modernize their branches and develop a flexible, effective plan for continued operation and development, plenty of attention has been paid to technological advances and incorporating them into neighborhood bank offerings. However, there's a more traditional area where banks can focus to tap into customer sentiment: self-service coin counters.
It's important to make a distinction between trends and long-term needs. While the rapid shift in consumer preferences as a whole is a long-term need banks need to address, there are some items that will endure and enter into the fabric of banking and some that most likely won't. Knowing which needs to address - and which are mostly or totally avoidable - would help banks significantly, allowing for more efficient operations and less wasted time, effort and money. While it's impossible to know exactly which new trends have staying power, there are some older, more established preferences banks can tap into to attract customers.
Providing a place for customers to turn their change into more easily handled bills - and to easily make a deposit if they want to do so - is an enduringly attractive option. While the public has seized on new forms of payment in a variety of different contexts, cash and coins are still a regular part of everyday transactions. People still pile up coins in jars, on their dressers and in their cars, just to name a few examples. And as long as these individuals accumulate change, many of them will want to exchange it for more convenient options.
Introducing self-service coin counters into branches is a relatively simple consideration that taps into a recognized need that's relevant in the long term. With these machines in place, banks have another dimension of service and convenience to offer their current and potential clients. Coin counters also provide an avenue to expose customers to the many other products and services offered by branches.
September 23, 2016