Glory Global Solutions, the global expert in cash management, today announced a new cash recycling solution, the Vertera ETD (Electronic Teller Drawer), at the BAI Retail Delivery 2015 conference in Las Vegas.
The single-user, single-custody ‘personal cash recycler’ replaces a bank teller’s traditional cash drawer, while also providing lockable space for items such as rolled or loose coins or other items of value.
The Vertera ETD eliminates the need for manual cash counting by authenticating, counting, validating, storing and recycling deposited banknotes and dispensing them automatically and accurately as needed. By eliminating redundant counting of banknotes, customer transactions can be executed faster, reducing wait times while keeping tellers out of the vault and serving customers. Also, staff members save a considerable amount of time and can focus on customer relationship-building and selling higher-margin initiatives. A simplified day-end process also makes balancing fast and simple, reducing staff stress at the completion of a shift.
Designed as a small and simple unit, the Vertera ETD also reduces the complexity and associated cost of implementing full teller cash recycling in a bank branch, while still realizing many of the benefits. Installation and construction costs are near zero, with the unit simply replacing the traditional teller pedestal and fitting even the most space-constrained areas. There are no significant changes to daily teller operations and security is comparable to a typical cash drawer or cash trolley.
Joe Gnorski, Vice President of Marketing and Sales Operations at Glory Global Solutions, said: “Consumers are demanding an evolution in the relationship with their bank branch, with convenience featuring heavily in consumers’ wants and needs. Bank branches are, therefore, increasingly required to be more attractive and flexible spaces that offer higher-margin services with a genuine human touch.”
“The Vertera ETD is a great starting point for this type of branch transformation – for moving traditional bank tellers towards expanded ‘universal banker’ client service roles that nurture deeper customer relationships. It is a ‘keep it simple’ alternative to our multi-user, higher capacity teller cash recyclers, which can be deployed quickly and inexpensively, yet still deliver many of the benefits.”