How Can Flexible TCR Implementations Benefit Branch Operations?

It may have taken longer than expected for some Financial institutions to adopt a strategy for Cash Automation, but Teller Cash Recycler (TCR) acceptance is on the rise with many trends observed during my travels between 2022-2024. Financial institutions of all sizes are looking for ways to add newer technology and processes that improve the customer experience while enhancing their staff’s productivity.

There is no question that TCRs will improve efficiency within a branch and create new opportunities to serve customers if they are implemented flexibly. What do I mean by that?

Imagine investing in a new iPhone or Android with the intent to fully utilize its features and capabilities to help your team. You may want to use the maps feature, enhanced camera tools, automatically track a job in real time, and so on. Maybe you want to use apps so customers can open accounts and receive alerts.

How would you feel if your cell network told you it did not support any of those features and provided a list of certified phones that included a Blackberry, flip phone, and other old technology from years ago? The trends I have observed are CORE Networks are slow adding Certifications and Direct Integration options for financial institutions… Especially if they are not large enough to justify the request. What this means is financial institutions have to look for flexible software options that will support all features desired as they plan in 2024 and years down the road.

Fortunately, newer TCR technology has many advanced features, modern operating systems and customizable configurations that offer incredible benefits to branches….If implemented flexibly. Software solutions have advanced as well, which means financial institutions of all sizes have options to ensure their investment positively impacts their business quickly and long term.

For instance, cassette-based TCRs have replaced the outdated RSM (Rolled Storage Module) TCRs with some models having features like unattended Self Audit, Remote Monitoring, and Multi-Currency cash handling to name a few. What does a financial institution do if they want this newer technology, but the Core Network is not supportive of it yet? This requires flexibility in implementation which, as mentioned, there are solutions for all sizes of financial institutions.

I believe there is a correlation between the changes in customer habits (post-COVID), branch model updating and maximization of branch locations that are pushing these technology solutions and technology requests by financial institutions. ITMs have been rapidly accepted and certified across the country which was an unexpected observation during this past 2-3 year period of traveling.

Conversations with retired executives have also impacted my appreciation that, in today’s market, when customers enter a branch they are looking for a solution to a problem or to fulfill a need of theirs. This requires staff to be more attentive to consultative sales than repeating manual tasks.

One of the things I enjoy most in today’s market is the emphasis on giving customers options without feeling like they “must do as they are told.” The future is bright for banking and I look forward to being a part of its continued maturation.

About the Author

Corey Jay King has worked in the banking industry for over 30 years. His role at ACG (Strategic Accounts Executive) involves leading ATEC TCR Distributors nationwide who are dedicated to Cash Automation. | Connect with Corey on LinkedIn