Renewed Emphasis on Cash Management in Banking

by Edward O'Brien 0

NCR’s recent announcement about itsacquisition of cash optimization vendor Transoft International isyet another indication about the importance of cash management andcash optimization systems in today’s banking channels.

As financial institutions continue to strive for ways to improvetheir efficiency and productivity, cash management is taking onrenewed importance in both the ATM and branch channels. Thesecapabilities are increasingly important components of today’schannel systems, whether they reside in self-service orfull-service channels.

Automated teller machine cash management systems can analyze andoptimize cash requirements, resulting in reduced cash-handlingcosts. Similarly, branch systems can significantly improve tellerproductivity by automating many of the more mundane tasks within abranch, such as note counting and replenishment, cash recycling,and ease of reconciliation. This not only increases efficiencies atthe teller line, it also allows more teller face time andinteraction with customers.

The additional face time made available by these capabilitiesoffers increases opportunities for tellers to better understandcustomer needs and to communicate with them more deeply, opening updialog about potential new products and services, and ultimatelyfostering improved customer interaction and satisfaction.

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