In the last few years, branch transformation has become one of the most frequently heard terms in the banking industry. Increasingly under pressure to control costs, improve customer service, and remain relevant in the age of mobile banking, financial institutions around the world are re-evaluating and transforming their branch networks in an effort to address these challenges. The implementation of banking automation technology plays a significant part in these projects. Traditional...
More DescriptionIn the last few years, branch transformation has become one of the most frequently heard terms in the banking industry. Increasingly under pressure to control costs, improve customer service, and remain relevant in the age of mobile banking, financial institutions around the world are re-evaluating and transforming their branch networks in an effort to address these challenges. The implementation of banking automation technology plays a significant part in these projects. Traditional in-branch transactions have steadily declined over the past ten years. This has forced banks to look inward at branch costs, efficiencies, and how they interact with customers. Retail banking has traditionally been a key touch-point for customers, and simply closing branches is not the preferred option. Having locations close to where customers live or work provides a significant competitive advantage for the financial institution.In this book, we explore the world surrounding cash automation, and in particular, cash recyclers. A cash recycler is a complex machine that automates a couple of simple, but important tasks--accepting and dispensing cash. We take a detailed look at how it impacts the retail banking landscape. This book reveals how cash recyclers are at the heart of a revolution taking place inside bank and credit union branches. Drawing on expert knowledge of industry veterans, we examine the future of bank design and provides practical answers to questions such as: * How will branch processes change?* Do you need to change teller line?* How do you transition tellers into a cross-selling role?* Should you redesign or retrofit your branch?* How much space do you need?* How many machines and what is the right capacity? * Branch operations integration: direct vs middleware vs standalone. What's best?We pose -- and answer -- the critical questions that anybody working in retail banking operations needs to ask.