We had a great group join us on our recent webinar to learn about the operational improvements that can be realized by utilizing cash automation and cash recyclers in particular.

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.

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?

It is interesting to look at these two cash recyclers side by side because, for me, it’s like comparing apples to oranges. While the CM18 is a good looking, tech savvy unit; I would say it really only serves low to moderate volume locations well. The MoniSafe 500 is truly designed to be a recycler for high volume locations and institutions that are looking to improve overall branch cash management between multiple devices. Below are the pros and cons of each machine so that you can make an educated decision about which one will best fit your needs.