Our customers are frequently reaching out to Cennox for guidance around the latest technology for recyling cash.
Our solutions give your location the ability to recycle cash while accepting large portions of cash in less than 30 seconds. Our cash recyclers provide automation with cassettes for a busy day and are safe solutions for night-time automation.
Why Cash Recycling Technology?
There is a growing demand on financial institutions to provide alternative touch points, new technology, and a better customer experience. This has created an increased burden on financial institution executives to meet these demands while also looking for ways to reduce costs and increase efficiencies. Modernized branches, with new self-service recycling technology, can help lower costs and increase efficiencies while offering consumers the experience they are look for.
What is ATM Cash Recycling
Cash recycling enables an ATM to use deposited cash for future withdrawals. A single mechanism in the ATM handles all cash in and out transactions, sorting deposited cash by denomination for later use in withdrawals. While a significant impact to cash operations, the only customer experience change is a different location for deposited cash.
ATM Cash Recycling...
- Reduces the frequency of cash service events at the ATM, leading directly to an easily quantifiable cost savings
- Many associated cash processing tasks are also impacted, providing multiple value levers for a bank’s operations
- Integrating the entire cash cycle allows for a holistic business case associated with the implementation of ATM recycling
Cash recycling at the ATM provides a financial institution the opportunity to recognize efficiencies in many areas of its operations.
Teller cash recycling improves processes and efficiencies, while reducing cash inventory expenses.
Value Propositions for TCRs
- Rather than arriving early to set up drawers, it is now easy as the teller arriving, turning on PC, turning on TCR , and servicing the first customer.
- Commercial transactions are sped up and reduce wait times. TCRs sort, count, verify, and deposit the bills fast!
- Vaults buys and sells are time consuming, low value activities. TCRs can save up to 80% of time involved given there are no cash drawers, no drawer limits and no dual control for vaults.
- Cash handling takes anywhere from 20 to 45 seconds manually. A TCR allows engagement with the customer, no heads down counting.
- TCRs also help manage the branch’s cash inventory by capturing information about cash usage. Using this information, the bank can reduce cash inventory expenses. Cash counts can be done for cash deliveries.
- The TCR can do a self-audit overnight to assure compliance standards are met.
- TCRs remove balancing issues of cash drawers, errors, and accuracy issues. Tellers can balance the TCR, sign off and leave.