M 7 It’s worth taking a moment to assess your current cash recycling technology to see if your organization has fallen behind the technology curve. one two three Many Teller Cash Recycler (TCR) brands have become obsolete with limited parts availability. Some are even at the end of life and are a security risk. With the recent changes in the TCR industry, it’s important to review your current Teller Cash Recycler fleet. When it comes to lobby teller cash recyclers, not much has changed over the last decade. The emergence of teller cash dispensers as an alternative to traditional teller cash drawers allowed for a safe, automated way to dispense cash at the teller line, avoid cash counting mistakes and make the overall branch operation flow more smoothly. When the technology advanced to full cash recycling with the ability to both dispense and accept cash, it felt like the cash journey in the branch was complete with a single piece of technology. No more need for a vault, cash drawers and timeconsuming cash audits. It’s rare to find a financial institution today that hasn’t deployed this technology. It seemed that the financial services industry was finally caught up technology-wise. Unfortunately, the technology that caught on so quickly has slowly become an afterthought. If you were to pick a black hole of technology within a financial institution, teller cash recyclers would fit that bill. Substantial planning and testing went into deploying the first units, but once branch rollouts were complete, most financial institutions haven’t really given their cash recyclers a second thought. Of course, this technology has not stopped evolving over the years. Your financial institution might not be aware of features and functionality that have changed since the introduction of TCRs. It’s worth taking a moment to assess your current cash recycling technology to see if your organization has fallen behind the technology curve. 7 Points to Consider Regarding Teller Cash Management and Recyclers 1. Rolled Storage Modules (RSM) Are Outdated: This has quickly become a technology of the past. RSMs limit your cash capacity, transaction speed and, more importantly, the ability to audit and share cash between devices. INTEROPERABILITY is critical. If you can’t share your cash from device to device without physically touching it, you’re missing out on key functionality. 2. Self-Audits Are Now Automated: Still counting cash with dual control by hand to make sure your units are in balance? STOP! Today’s technology can do it for you. 3. Capacity Has Increased: Cassette-based recyclers provide close to double the capacity compared to an RSM recycler. Odds are with a cassette-based recycler you can reduce the number of machines you need to purchase and maintain, which can net significant savings at a time when it is becoming more and more challenging to turn a profit. No one wants to run out of cash or a specific denomination. Doubling your available currency can eliminate that worry. Teller Cash Management and Recycler Stats Worth a Re-Look By Scott Fieber, Chief Strategy Officer, Cook Solutions Group Colorado Banker 6
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