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:
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The typical capital cost of a TCR is:
As the machine reduces your annual labor costs, this amount can easily come out of the money you save on FTEs with TCRs.
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:
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.
Bridge the physical and digital channels, create virtual branch experiences anywhere through video banking and capture revenue opportunities in real time.
Strategic Use Cases
If you are eager to learn more about how your institution can implement video banking to offer a better experience for your clients click here!
There are automation, integration, usability, cost of ownership, and architecture advantages to the PIKO system that could benefit your financial institution.
Learn more about the PIKO platform and its benefits by taking a look at the brochure below!
Understand what is it like to work with a winning service provider and the difference it can make for your institution.
If you have questions around how these solutions can support your 2022 planning we would like the opportunity to outline that for you. Click below and a member of our executive team will reach out to discuss your strategy and where QDS can help.
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