The branch of the future is all about creating a destination and a memorable experience for your customers and members, and cash recyclers and dispensers (CDRs) have become an essential part of branch transformation. But when employees are confined to a cash drawer and a cold and obtrusive teller counter, achieving that goal is almost impossible.
How can you break through these limitations to create a superior experience and make your existing clients happy clients?
Teller Cash Automation.
TCA deployment is rapidly growing among financial institutions and includes Teller Cash Recyclers (TCRs) and Teller Cash Dispensers (TCDs). While TCRs have the capability to securely store, dispense and intake cash, TCDs only have the ability to securely store and dispense cash. Because of TCDs limitations, TCRs are becoming more widespread, with a reported 53% of FI’s considering implementing a TCR in a new branch within the next year.
Why is TCA Becoming an Integral Part of Branch Transformation?
The use of TCA technology means eliminating the restrictive cash drawer, all the counting and balancing behind it, and security risk of exposed cash—giving huge flexibility in branch designs. The sky becomes the limit when a branch can finally focus on creating the best client experience through design—without the additional worry of how to best secure cash since it’s locked in an inaccessible safe built-in to the TCA machine.
No longer is a protective teller counter necessary, it can now be replaced with smaller Teller Towers where employees can engage in consultative type conversations—side by side with clients. Removing the restrictions of a traditional teller counter also facilitates more personalized interactions with customers, better service and an increase in upsell opportunities.
With TCA in place and a tool like RTA, staff can even become universal in the services they can perform, instead of segmented because of their location limitations. They can walk away freely from their counter at any time to better assist clients and even complete a deposit or withdrawal from anywhere in the branch.
Hardware is only Half the Solution
While many would agree that migrating to Teller Cash Recyclers is the right choice, the branch transformation enabled by these machines doesn’t simply end with the hardware. CFM developed S4 as a software solution that gives FIs insight into whether their devices are turned on, being used, being used effectively, optimally deployed, and properly maintained. It also provides flexibility in allowing a branch to choose the right TCA machine mix for their branch – even if that means a variety of several makes and models. Branches can pick and choose what makes sense for their network and have actual data behind how many machines they really need.
Teller Cash Automation is no doubt changing the way a branch operates, and the financial institutions that will come out on top are the ones who design their branches with technology in mind, rather than simply adding new technology to old configurations. If you’re interested in transforming your branch but don’t know quite where to start, get in touch with CFM—we’ve helped hundreds of financial institutions with their TCA deployment and cash automation integrations, and we’d be happy to help you too!