ABA Banking Journal - November 2010 - (Page 22)

tech topics    |   TeLLer TeCHnoLoGY Cash recycling gets another look Improved technology and the need for efficiency has more banks interested by ashley bray Reg P D/Q, T eller cash recyclers (TCRs) are an evolution of teller cash dispensers, available for years. Recyclers connect with teller software and accept cash, verify authenticity, sort by denomination, and then securely store that cash at the point of transaction. That cash is recycled for withdrawals. These devices are designed to cut costs, improve cash handling, and increase branch efficiency. So why have banks waited until now to start adopting the technology? For one, studies indicate now is the time to implement better cash handling. TowerGroup reports that 60% of U.S. transactions are still cash. Vendors say the recession and need to control spending may have increased use of cash. “[Cash] will be a part of the transaction activity in the branch, and there’s going to continue to be the need to manage that cost of handling it,” says Linda Perconti, director of Delivery Channel Solutions, Diebold Inc. “The next evolution might consist of building more recycling into self-service as the overall transaction process becomes more and more automated.” “Cash is here to stay,” she adds, “for a while.” A change in perception of the devices as bulky, unreliable, and expensive has helped to put them in the spotlight, as well. The new ability to integrate the TCRs with teller system software, as well as the increasing number of manufacturers and product offerings available, makes the devices more appealing. In fact, a recent Celent survey found that over 50% of banks are either considering, planning, piloting, or routinely using a TCR solution (see graph, p. 25). Increased interest comes as banks face new pressures from regulatory and economic changes. “In the branch channel, they’ve 22  |  ABA BANKING JOURNAL  |  november 2010 http://www.diebold.com/

Table of Contents for the Digital Edition of ABA Banking Journal - November 2010

ABA Banking Journal - November 2010
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
ABA Community Banking: Chapter 12’s Bad Fit
Pass the Aspirin
Tech Topics
Capital Squeeze
Basel III Redefines Capital
Compliance Clinic
Compliance Inbox
ABA Resources
Investment Management
Surveys & Trends
First Person

ABA Banking Journal - November 2010

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