This page lays out key areas to consider as you strategize your 2022 budget and how you'd like to impact client experience with your business. We focus on prioritizing interactions over transactions.
Customer Experience is a major priority in banking today. Consider the content below as you prepare for 2022 and beyond. We'll help you come up with a winning game plan to prepare you for a year of success!
The banking industry has changed drastically. Since the start of the COVID-19 pandemic, many FIs are struggling with staffing shortages and other operational challenges that may become a major hindrance in 2022 and beyond to the current business model.
Automation technology has become increasingly important to reconcile these difficulties and to facilitate service needs in short-staffed branches.
TCRs are a powerful tool in today's market that increase efficiency in branch locations and lessen the burden of cash-handling for your staff.
Some essential benefits of Teller Cash Recyclers include:
Click the button below to explore our Teller Cash Recyclers page and become a TCR expert!
TCR price ranges can tend to vary depending on the type of machine, maintenance costs, depreciation of the technology, etc.
In this section, we'll discuss not only the capital of a TCR but also the ROI of the machine as it allows you to cut down on labor costs and increase efficiency, saving you opening and closing time which— as we all know— is money!
As cash deposits continue to increase across the banking industry, automated cash handling can be a useful tool for eliminating errors and denominating deposits.
Cash discriminators are money counters that read mixed currency. Cash discriminators' use cases include:
ITMs remain an important tool for extending hours and enhancing self-service functionality. With core integration, ITMs allow you to drive greater efficiency while satisfying and providing value for your clients.
In 2021 and 2022, we continue to see ITMs help FIs overcome staffing challenges by offering greater transaction sets through the ATM channel, allowing clients to do more things over more hours, making convenience a top priority.
The cost of an ITM depends on several features and functions that we will break down in this section.
There are a few types of ITMs, and different models will vary in cost.
Integration type and software may also affect pricing. Features such as Core Integration, ATM Switch Integration, and Active Teller may range from $100,000 - $150,000.
ITMs offer about 90% of transactions that a teller could complete in the branch. This can:
ITMs typically cost anywhere from $18,000 - $21,000 / year, including service, depending on how you depreciate the technology.
This price can make up for problems in your branches such as high teller turnover rates, an inability to effectively staff branch locations, and inflexible branch hours. As the machines handle a larger transaction load over a greater period of time, you're able to accommodate for staff shortages and keep the focus on better serving your clientele.
Video banking deployments have continued to rise to address key challenges following the start of the COVID-19 pandemic. Not only are more FIs adopting ITM technology, but virtual and video banking solutions like POPi/o continue to drive sales operations.
Much like with ITMs, Video Banking allows you to provide self-service banking for your clients and centralize employees who specialize in areas such as key lending, account opening, and wealth management.
Mobile and tablet video banking from our partner, POPiO, can add video into your FI's sales channel, including account opening and lending. Clients are able to get loans done with a banker in real time from the comfort of their home, work, or anywhere.
Learn more about our partner POPiO and how they can help you better serve your clients in a constantly changing market.
Bridge the physical and digital channels, create virtual branch experiences anywhere through video banking and capture revenue opportunities in real time.
Strategic Use Cases
Benefits of Multi-Channel Video Banking:
In branch, mobile and web
Convenient (Ensure experts are in every branch with video banking and ensure consumers can bank when, where and how they want through mobile video banking.
Fast & Easy (5 minute average call time)
80% of video calls are related to some type of value-added transaction (loans/new accounts)
95% Positive Feedback
Features of Video Banking:
A Video Management System (VMS) is the front-line security platform for your FI's branches. Generally, your surveillance solution should collect video from cameras and other sources, store the video to a storage solution, and provide an interface to observe live and recorded video across your enterprise.
In researching competitive VMS systems, QDS discovered most solutions are incredibly expensive, heavily proprietary, difficult to navigate and research, and a burden on IT departments to properly manage and update. Additionally, most VMS systems are designed for large FI’s and commercial enterprises, not community banks and credit unions.
PIKO is a non-proprietary, software-based surveillance solution designed to be open, secure, and user-friendly.
PIKO is a lightweight, easy to navigate, open architected IP video management system designed to make your monitoring and research experience simple.
With no enterprise requirements, PIKO’s cloud-based platform enables centralized remote access to all locations via browser, desktop, or mobile app with a single sign-on. PIKO is hardware independent, works with most IP and analog cameras, and supports all major operating systems.
Get in touch with our expert on the Piko VMS, our Director of Digital Solutions!
He can help you understand the system and whether it's a good fit for your institution.
Entering 2022, we encourage you to review your service options. Do you have too many vendors to keep up with? Are your contracts always renewing at different times? Is now a good time to think about managed services and relieve pressure from your internal team?
At QDS, we've been successful by doing what we say we are going to do. We aim to tie our success to yours and deliver the exceptional service necessary to keep your FI up and running.
We know you don't want your devices down, especially at crucial times. We're here to help! With our 97+% uptime guarantee, we're sure we won't let you down!
Understand what is it like to work with a winning service provider and the difference it can make for your institution.
Many FIs have reduced the internal operational burden by enlisting the help of ATM and ITM vendors to do the heavy-lifting.
QDS' Managed Services specializes in remote service. By integrating with your FI's system, we're able to resolve most issues without physically entering your branches.
If you’d like your contracts to revolve around accountability of your devices operability, QDS might be the partner for you. We believe the key factor of channel success is: UPTIME.
While a provider's response time can be important, the most important thing is that your devices are working for your clients.
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