Staff at Metro Bank, the first new high street retail bank to enter the UK market for 100 years, are spending less time handling cash and more time serving customers or "fans" thanks to innovative teller cash recycling technology from NCR Corporation (NYSE:NCR).
Up to 40 per cent of a teller's time is spent counting and re-counting cash at traditional teller lines. Metro Bank has cut this significantly with NCR's teller cash recyclers, which automate the acceptance, authentication and validation of note deposits and make the cash instantly available for dispensing to customers.
NCR teller cash recyclers are being used at Metro Bank's Holborn, Earl's Court and Fulham stores and will also be rolled out to their next store at Borehamwood which opens at the end of October. The bank plans twelve further outlets in Greater London over the next two years with an ultimate goal for a network of more than 200 stores.
Craig Donaldson, CEO of Metro Bank, comments, "NCR's teller cash recyclers have enabled Metro Bank to design new stores that will help us transform the face of British banking through unparalleled service, simplified products and extended opening hours. The innovative, cash automation technology means staff can focus their full attention on delivering excellent fast and accurate financial services to customers rather than on administrative tasks."
The units have a range of hardware and software security features which eliminate the need for traditional glass barriers between staff and customers. This has enabled Metro Bank to create welcoming and modern, open plan stores.
Elton Birden, NCR's Managing Director for Northern Europe, comments, "Metro Bank is using NCR teller cash recyclers to help speed up transactions, reduce wait times and achieve unmatched levels of customer service."
Running on NCR APTRA Cash Connect software in a unique thin client environment, the teller cash recyclers, called NCR Cash Recycler, reduce the time taken for start- and end-of-day balancing by giving each teller an instant, individual cash drawer balance. With NCR Cash Recycler's unique continuous feed functionality, tellers can process large customer deposits in a single transaction freeing up time to offer a more personal service to their "fans".