Washington Federal uses technology to focus on the customer experience

ARCA’s CM18 cash recycler drives efficiency at the branch level

MEBANE, NC (May 28, 2015)—ARCA, an industry leader in card, check and cash automation solutions, announced today that Washington Federal has begun installing ARCA’s CM18 cash recyclers at select locations as part of its branch transformation project.

The ARCA CM18 cash recycler streamlines cash-related processes, allowing tellers to focus on the customer and not on manual cash counting activities. This technology automatically counts, authenticates and secures cash deposited by customers providing the branch with reduced transaction times, improved teller accuracy, increased security and more efficient control over their cash inventory.

“Part of our overall branch transformation strategy is to get away from just cashing checks and dispensing cash, and engage with our clients and really connect with them,” Tim Vo, Project Manager for Deposit Systems at Washington Federal, said. “We want to make sure that our clients understand that we’re here to meet their financial needs.”

Washington Federal offers retail and commercial banking, as well as mortgage lending, all while keeping a focus as a community-oriented bank. With over 240 branches in eight states, Washington Federal has placed a strong emphasis on servicing its clients and views technology as a part of their future plans. By utilizing cash recycling technology at the teller line, Washington Federal has discovered operational efficiencies that translate into a better client experience.

“We develop products and services all the time, and we’re not always as sure that our clients are hearing what we’ve developed,” Vo said. “So our vision is to transition that traditional teller role into more of a personal banker. It’s that opportunity to really cement our relationship with the client and bring value to the relationship that the client may not receive from other financial institutions.”

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About ARCA

About Washington Federal

Washington Federal, Inc. is the parent company of Washington Federal, a national bank that operates 247 branches in Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas and New Mexico. Established in 1917, the bank provides consumer and commercial deposit accounts, insurance products, and financing for small to middle market businesses, commercial real estate and residential real estate, including consumer mortgages and home equity lines of credit. As of March 31, 2015, the Company reported $14.6 billion in assets, $10.7 billion in deposits and $2.0 billion in stockholders’ equity.

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