With branch image capture now widespread, banks are turning to solutions to automate handling the remaining paper, particularly cash.
In a new report, Cash Automation in Branch Banking, Celent explores the benefits of branch cash automation, considerations for prospective banks, and the vendor landscape for dispensing and recycling devices—collectively referred to as teller assist units (TAUs). Such equipment has been in use for nearly 15 years in the US, but interest is growing with the introduction of second-generation devices alongside increasing pressures for cost containment in the branch channel.
Since the introduction of the teller cash dispenser, Celent estimates there have been some 42,000 TAUs installed in North America. Among them, approximately 35,000 are dispensers. With the broadening of bank adoption and concurrent product improvements, Celent expects continued growth of teller cash recycling. By 2014, Celent estimates recyclers will account for 40% of all installed TAUs.
“Most banks are under considerable pressure to both reduce costs and improve branch sales and service effectiveness,” says Bob Meara, Senior Analyst with Celent’s Banking Group and author of the report. “CRM systems and transaction automation, like teller capture and teller cash recycling, are becoming two sides of the same coin. CRM systems alone aren’t delivering results.”
This report explains the reasons for growing interest in teller cash recycling. The report begins with a view of cash usage in North America and its impact on branch banking. This is followed by an overview of branch cash automation, expected benefits, and solution trends and considerations. The value proposition for banks is highlighted through a case study. Finally, the report details the current vendor landscape, with profiles of major vendors and their solutions.
