3 Reasons Why You Need To Care About RTA

Perhaps you’ve heard about the award-winning tech product, Remote Transaction Assist (or just RTA), that is disrupting the banking industry and is being deployed right now in financial institutions across the country. Here are 3 key reasons why RTA should be considered for your branch or branch network.

But first, a quick look at what RTA is and why it should matter to you:

Simply put, RTA is CFM’s innovative solution to safely process cash transactions for any staff member using any device (tablet, PC, iPad, etc.) anywhere in a branch. In other words, RTA breaks the hardware chains so that your cash machines are no longer limited to only two tellers at a time.

Reason #1: The industry needs RTA.

Think about what’s important to today’s consumers: flexibility, choice, ease of use, self-service ability. In light of these expectations, we’re seeing these changes rapidly taking place in the market:

  • Obtrusive walls of teller stations are disappearing;
  • Long wait times in roped-off lines are fading away;
  • Large branch footprints are simply becoming unnecessary.

And what’s enabling changes like these to become the reality? In a word, technology.

More and more banks and credit unions are moving away from relationships built solely on client transactions to more advisory relationships built on education and trust. The tablet-based Universal Associate model is a key part of this evolution, and RTA was created to meet these exact market needs and allows for secured access to cash from any point in the branch.

Reason #2: RTA benefits your financial institution because it benefits your clients.

RTA brings many benefits to a bank or credit union, and most of all because it meets the demands of the modern consumer and Consider just 3 ways RTA benefits both you and your clients:

  1. More Freedom, Greater Efficiency – RTA adds flexibility to a branch and gives staff the freedom to serve members without being directly tied to a cash drawer or cash automation machine. This benefit makes RTA an essential element for open branch designs and Universal Associates, providing a more efficient in-branch experience to members.
  2. Reduced Costs, Increased Revenues – Operating costs are reduced by allowing more employees to share machines, which in turn decreases the number of recyclers and dispensers needed to operate a branch. At the same time, RTA enables staff to assist more clients–and with better quality conversations–and advise on the additional products and services that are available.
  3. Improved Client Relationships – RTA helps improve the member experience by allowing branch staff to move away from a transactional role to more of an advisory role. Because handling transactions through RTA can be done from anywhere in the branch, long wait times are drastically diminished and staff are now able to have more personalized conversations with members so that they can develop long-term relationships.

Reason #3: RTA is a proven, award-winning solution.

  • RTA was named one of the Best New FinTech Products of the Year in the 2017 Stevie American Business Awards.
  • Financial institutions like Wells Fargo and Navy Federal Credit Union have already successfully deployed RTA.
  • RTA has been released on multiple core platforms attributing to the 3000+ devices that now use RTA.
  • Don’t just take our word for it. Check out this case study of ORNL Federal Credit Union for an example of RTA in action.

“RTA adds so many conveniences in so many different areas,
it’s unbelievable.” 
-Megan Sandiford, ORNL FCU Branch Manager

RTA is part of CFM’s Transformation Fusion, which is a software and technology product suite built upon a foundation of core integration designed to make banking easier for both financial institutions and their clients. To discuss how you can take advantage of RTA’s efficient, cost-saving, client experience-improving power, set up your demo today.