ATMs serve as an extension of the bank branch enabling better accessibility to banking services while further strengthening brand reach. With increased usage of ATMs and the need to deliver services in line with customer expectations, it becomes imperative for financial institutions to leverage technology to offer best-in-class services while ensuring optimised costs of operations.
For banks, the cost of handling cash represents a significant part of ATM operating costs. The ATM cash management process is operationally tedious as it involves multiple activities including cash counting, cash sorting and cash transportation across multiple touch points and stakeholders. With an effective cash management strategy in place, financial institutions can not only reduce costs but drive operational efficiency, enhance customer service levels and gain a competitive edge.
Here is where Cash Recycling and Automation Technology comes into play. By enabling recycling of deposited cash for subsequent withdrawals, Cash Recycling Machines (CRMs) offer 24 X 7 ATM services including cash deposit functionality, improving levels of convenience and service for customers while serving multiple needs of financial institutions. With CRMs, financial institutions can offer customers a range of benefits elevating customer experience to a whole new level while reducing Total Cost of Ownership (TCO) of ATM network.
Hitachi Cash Recycling Machines help optimise Total Cost of Ownership (TCO) of ATM network by
- Reducing costs – As CRMs need fewer cash replenishment runs, it reduces cash-in-transit costs, cash sorting and handling costs. It also reduces fraud related costs through suspect note identification.
- Energy saving – Reduces energy consumption
- Space saving – Financial Institution need not worry about the space issue for deploying two machines – cash dispenser and cash deposit, a cash recycling machine can take care of both tasks.
- High availability – With CRMs, financial institutions can manage ATM channel cash requirements more efficiently and ensure higher machine uptime. Our CRMs also mitigate the risk of note jamming by reducing the number of junction gates where note jamming is frequently observed. This mechatronics enhancement also enables banks to maximize ATM up-time and transactions.
Over the years with innovation in technology, the ATM has come a long way from just offering cash withdrawal services beyond banking hours to serving as a mini branch offering a variety of services, bringing banking to the customer’s doorsteps. With Cash Recycling and Automation technology, financial institutions can improve ATM channel performance and increase profitability, while offering customers superior banking services.