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How currency automation benefits FIs

December 3, 2013

Cummins Allison, providers of coin, currency, check handling solutions and ATMs, released a report detailing how currency automation technology is not only a value-added service for customers but also a boost to labor productivity.

According to the company, FIs that select proven currency scanning and counting technology can replace outdated devices that are underperforming, slowing down simple tasks, and taking time away from customer interaction.

Coin counting machines that offer streamlined sorting, collection and storage can also lead to quantifiable time savings, the company said. Bin storage models eliminate the need for tellers to manage and lift several bags of coin; instead, they roll the bin into the vault and never touch the coin again.

Labor and time savings can be achieved by investing in a single device that has multiple capabilities, such as processing currency and scanning checks. While maximizing the device's footprint, FIs can make more productive use of employees' time — which can often lead to more high-value interactions with customers.

"With these technologies, our tellers probably have 25 or 30 percent more time back in their day to complete other tasks; they're more efficient and productive," said Joel Serna, teller manager, Rio Bank. "We're also able to cut down on after-hours work and costs because the equipment ensures the vault is always in balance at the end of the day."

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