ABA Banking Journal - November 2008 - (Page 65)

Advertisement – A Driver For Change ent. Nearly 85 percent of respondents indicated a rise in product purchases from emerging affluent customers at the branch in the next two years and 70 percent also anticipate an increase from affluent customers and small business customers. By Paul Race Director of Financial Industry Communications NCR Corporation NCR Cash Recycler Integrating innovative technologies By integrating new innovative cash recycling technologies banks are able to transform the branch business model, resulting in more efficient transaction processing, improved customer service and greater opportunities for sales. Automating the cash transaction process can lead to reduced levels of cash in the branch, a reduction in shrinkage and counterfeit exposure, elimination of human error and speedier, more effective customer interaction. NCR has found that in the case of cash withdrawals, teller productivity can be improved by reducing the transaction time by an average of 30 seconds. For deposits, transaction time is reduced by an average of two minutes. Teller hours per year can be released, enabling branch staff to concentrate on higher value activities such as new accounts, cross-selling and up-selling, and reduced time standing in line means a visible improvement in customer service “At NCR our aim is to interpret customer needs and to match these with appropriate business drivers to ensure best in class delivery, enabling our customers to stay ahead of the competition” said Mark McCallum, NCR’s Head of Marketing for Cash Management Solutions. “In a branch environment our mature cash recycling technology lowers costs, eliminates errors, improves customer service and helps transform the teller function.” Why recycling? The NCR Cash Recycler is designed to automate the acceptance, authentication and validation of banknotes, whilst making deposited notes (stored in a secure safe within the teller unit) instantly available for dispensing to customers. As well as improving counterfeit detection, automation of cash transactions means the virtual elimination of cash shortages or imbalances resulting from human error. Teller Cash Dispensers, as a mature technology, have been around for some time and only ease the teller’s task on the cash dispense transaction. A cash recycler provides a much more effi- cient solution. It has the added benefit of lessening the amount of cash required at the branch and improving security as the drawer balances are lower. This reduces the time needed for teller cash to be balanced at the beginning and end of day or for intraday replenishment of tills. In comparison a TCD needs to be filled with a large volume of cash every morning to enable all cash dispenses during the day and the notes deposited are not re-used. This leads to vault buy and sell operations during the day and impacts on the time tellers are available to customers. Using TCR technology can also lessen the need for a traditional vault. These potential cost savings have implications for the cost of establishing a branch. In a situation where face-toface contact is deemed essential to increased sales, this could be an important factor in determining a bank’s branch expansion strategy. Mark McCallum said “Our focus is on providing financial institutions with innovative solutions that help them transform their businesses and provide their customers with easy, convenient ways to interact. In the current competitive environment, reliable recycling technology gives banks a strong competitive edge in redefining the branch business model, enabling the provision of cost effective cash handling and freeing up time and resources for revenue generating sales activities.”

Table of Contents Feed for the Digital Edition of ABA Banking Journal - November 2008

ABA Banking Journal - November 2008 Contents Editor's Column Banking 2.0: Credit, Banking's Essence, Set for Rethinking Snapshot: The Few, the Proud, the Banks that Can Raise Capital Will Strong and Simple Banks Inherit the Business? Back to the Future ABA Resources ABA Chairman's Position Farm Lenders Must Take Care When Lending in Indian Country Pass the Aspirin Into the Breach Adventures Across A Century What the Future Holds, Post Crisis Paul Volcker: A Financial Legend Still Speaks Strong Ed Yingling: Weathering the Storm Dick Kovacevich: "Boring" Banking to Dynamic Financial Services Jim Culberson: Community Banking: What has Changed and What Shouldn't Walter Shipley: How a Chemical Reaction Helped to Mold Today's JPMorgan Chase William Isaac: Challenges and Opportunities Ahead for Banks A Hundred Years from Our Pages Eight Tech Innovations that Brought Banks into 21st Century Bank Cherokee: Third Generaton Marks 100th Year The First National Bank of Altavista: Railroad Gave Birth to a Town, a Hope Chest, and a Bank Rosedales Federal Savings and Loan Association: How a Friendly Game of Cards Turned into a 100-Year Mutual New Washington State Bank: Cooking Up the Next 100 Years Mailbox Banker's Mart To Advertise/Index of Advertisers The Economy

ABA Banking Journal - November 2008

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