Dual-purpose cash and check scanners are great machines banks and credits can use. Tellers still handle significant deposits from cash and checking. A machine that can handle the counting and sorting of bills as well as the counting, sorting and depositing of checks creates a greater level of efficiency behind the teller desk. Through features such as fast sort, high-level counterfeit detection and remote deposit capture, banks can do more with less. These counters help reduce overhead costs and help tellers move away from the teller window and better serve their customers, whether they're individuals or businesses.
With so much change happening in the banking industry, branches have to reform to better compete with new circumstances. Remote deposit capture is surprisingly one of the major change agents affecting branches in particular. With RDC and ATM depositing, many customers no longer need to visit the branch to make a quick deposit. That means that bank branches have less of a role for customers, requiring consolidation and reform.
It just so happens that commercial-grade RDC can provide a positive impact for many of the banks that face this current predicament. One way this concept can help is when deploying check scanners in business operations. A recent survey by Cummins Allison found 24 percent of banks believed RDC would help them attract new commercial accounts. In addition, another survey by consulting firm Celent measured 10 percent growth in the use of commercial-level check scanners that feature RDC technology in the last year.
However, despite the potential of RDC in the back office, there's limited penetration among businesses. The same Cummins Allison survey found 75 percent of banks offer commercial-grade RDC, yet two-thirds of those banks have less than 5 percent of their commercial accounts using this service. The issue preventing further penetration is mere education: Depositors said they were interested in a service like RDC but didn't know whether their banks offered it. Banks must make a greater effort to market RDC and its key features by leveraging check scanners. The teller desk then becomes less necessary at branches, enabling a full transformation from the standard model of branch services into a customer-oriented business. With these machines, banking institutions can focus on their core products and strengthen their profits while reducing overheads.
November 12, 2015