Financial institutions are constantly assessing their branches in an effort to get more efficient. They are evaluating staffing models and looking at what investments they can make in branch technology that will provide a big payoff. The current trend in the market is to invest in cash recyclers and self-service devices because of their impact on client experience while providing efficiency within the branch.

One of the most common challenges our financial clients face is the workload of the head teller, teller supervisor or vault teller. The individuals in those roles spend a lot of time doing non client facing activities, which reduces the throughput of clients served and can lead to the branch incurring additional staffing expense to handle volumes and a diminished client experience. So, the question becomes: How much could I impact my client experience if my head teller was truly client focused? Let’s see how we get them back.

All tellers, no matter how wonderful or trustworthy they may be, are subject to stresses outside the workplace that can cloud judgment and cause them to make bad choices at work. The concept of dual control not only protects a FI's assets, but also lessens liability on the teller’s part since they would have to persuade a fellow employee to participate in an illegal act. Most employees have been with each other for a long time and therefore establish a trust between each other and internal controls can sometimes get overlooked. Establishing a strong internal control structure even in the midst of a trusting community is paramount to keeping a bank strong and its employees trustworthy. There are several dual control or joint custody items that can be eased by implementing cash automation into the workplace.

My thoughts on using video through the ATM channel have been validated by some of the largest banks in the US and now the question becomes whether video is still a viable technology for community banks and credit unions or not. I have not been a fan of video ATMs because I believe it leads to lengthened transaction times with minimal value add, especially at branch locations. Why is this technology failing to gain further traction and is there a better way to solve that problem?

As they look to allocate funds, many financial institutions are structuring their budgets to include investments that will improve their business. The customer experience in the branch has become a key differentiator in a crowded landscape of financial service providers. So what are your options for investment?

There has been a huge increase in the discussion of teller cash recyclers for use in branches to aid in gaining efficienc. Teller Cash Recyclers can be one of the most effective technologies in helping staff stay focused on the right things to help your institution not only survive, but thrive. Yet there have been implementations that haven’t gone as well as expected adI wanted to address a few of those concerns you may consider when deciding if teller cash recyclers are the best fit for your locations.