Bytes Managed Solutions (“Bytes MS”), the exclusive South African partner of NCR Corporation (NYSE: NCR), the global leader in consumer transaction technologies, today announced that Nedbank Group, one of the four largest banking groups in South Africa, has selected 250 units of NCR Cash Recycler 11 to significantly increases customer satisfaction by reducing wait times by up to 50 percent and allowing tellers to provide a more personal and efficient service.
NCR Cash Recycler 11 is designed to improve the productivity of bank tellers’ roles by automating the acceptance, authentication and validation of bank notes and making the notes instantly available for dispensing to customers. This speeds up transactions and allows tellers more time to interact with customers and cross-sell additional products and services.
“Nedbank has added more of the NCR cash recyclers across its branch network as it delivers superior customer experience and helps our transformational strategy to make our branches more efficient and consumer centric,” said Alan Anderson, Business Development Director of Bytes MS. “Apart from improving branch efficiency, NCR teller cash recyclers are secure as it ensures that all the counting and verification is conducted inside the recycler, minimizing the time that cash is exposed. When the cash recyclers are used in conjunction with cash management software, it can also ensure a more productive banking experience for the customers.”
The NCR teller cash recyclers allow Nedbank to transform its branches into a customer-centric and user-friendly environment with a modern and open-plan design by removing the security glasses at the teller booths. NCR teller cash recyclers can reduce cash deposit transaction times by up to 50 percent and cash dispensing transaction times by up to 40 percent.
“There is a growing trend for financial institutions to transform their branch banking experiences with new technologies. NCR is playing a critical role to assist banks during this transformational journey with our next-generation solutions to unlock amazing customer experiences,” said Dimitri Kanellopoulos, Country Manager for NCR South Africa. “The NCR teller cash recycler’s transforms branch experience by enabling tellers to interact with customers face-to-face without any boundaries. We have seen 20-40 percent increase in sales activities when implemented correctly.”
According to a 2014 McKinsey & Company report, consumers are 60 percent more likely to be active retail branch users than mobile or online, and consumers see these additional banking channels as complementary to the core branch channel. However, consumers still expect higher value interactions at their bank branches and since the teller cash recycler automates cash handling by tellers at the branch, it enables them to process transactions more quickly and efficiently while offering a greater customer experience.