NCR Corporation (NYSE: NCR) is reappointing Gunnebo Security Group as a reseller of its NCR Aptra Cash Connect software in the Nordics region.
NCR Cash Connect is multivendor software that enables banks to accept, count and dispense their customers' cash faster using Teller Cash Recycler (TCR) machines, which help to improve staff productivity and reduce operational costs.
Up to 45 per cent of a teller's time is spent manually counting and re-counting cash in the branch, according to Celent. Automating these activities not only enables customers to be served faster, but also frees up tellers to cross-sell, up-sell other products and services.
Using NCR APTRA Cash Connect's reporting tools, branch staff have better visibility of their cash position, helping to reduce the time and costs associated with cash inventory, end of day balancing tasks, preparing branch cash orders and cash transportation. It also helps to improve security by allowing the branch to set withdrawal limits, time delay locks and triggers for silent alarms.
"Gunnebo's solution including NCR APTRA Cash Connect improves the efficiency levels of branch staff by enabling tellers to accept and dispense cash faster whilst spending time focusing on interacting with customers and understanding their financial needs," commented Tormod Løvseth, country manager at Gunnebo. "Already, around nine in ten bank and post office branches in Norway use the technology and demand is growing in Sweden, Finland and Denmark."
Cash represents 85 per cent of the estimated €460 billion annual payments in Europe. Around half of all teller transactions involve cash, which is traditionally counted six times on the withdrawal and deposit cycle between the vault and customers.
Because of the efficiency gains they deliver, analyst firm Retail Banking Research predicts that around twenty per cent of branches will use Teller Cash Recyclers by 2013. NCR is the global market leader in teller cash recycler software which currently runs in the branches of 700 different financial services groups in 40 countries.
Michael O'Laughlin, vice president and general manager, NCR Financial Services, said, "Gunnebo has been selling NCR's market leading NCR APTRA Cash Connect software for over a decade to an extensive range of Nordic banks. By continuing our partnership with Gunnebo we will be able to meet the significant demand for this technology in the region."