Cash recyclers make cash transactions more efficient and change nearly every cash process in the branch. But what difference does that make for customers? This three-part series, looks at the impact of cash recyclers on the people on all sides of the transaction— managers, tellers and customers.
In part one, we shared how recyclers make life easier for managers. And in the second installment, we explored how they help tellers achieve balance. But how do customers benefit? Can cash recyclers deliver a better customer experience?
The Eyes Have It
Eye contact. It’s the key to connecting with people — the difference between an exceptional customer experience and an ordinary transaction. And it’s one thing usually missing from a typical branch transaction.
Processing cash transactions by hand requires that tellers sort and count cash several times to insure accuracy. The task requires them to be head-down and focused on the cash. But when cash recyclers sort, count and process cash, there’s a shift in focus. The customer and the teller are face to face and conversations can happen.
“Before (recyclers), you were so focused on the transaction itself, that you really couldn't focus on the member and what their needs were. Now that the machine is handling the process of the transaction, we're able to actually focus on the member, have good conversations, uncover needs, identify solutions for them, and then actually be able to focus on them, build rapport, and establish relationships, as opposed to focusing on individual transactions and treating them like a transaction. They can focus on what products and services need to be uncovered, and how to actually help the customer, as opposed to how to process this transaction.” Portia Powell, Branch Manager, Advia Credit Union
Time Well Spent
Saving time is only valuable if you put it to good use. Time and attention that used to be spent on cash is now time and attention tellers can give to customers.
“With the teller's extra time, they're able to have conversations with the customer. They're able to make that a better customer moment. With cash recyclers, we're able to be more efficient with our time so we’re able to take that extra moment and that extra time to provide those financial advantages to our customers. Angela Gina, Regional Director, Advia Credit Union
Banks that have adopted kiosk-style teller stations or a universal banker approach, have completely changed how they serve their customers. Cash recyclers give them the flexibility needed to make these concepts work. Numerica Credit Union in Spokane, Washington is one such example.
“When you first come in we have our concierges desk where somebody will greet you and take you through your time here at Numerica. We have our tech bar where members can come in log onto an iPad. Do their home banking. Check out current rates. If they have kids with them they can play games and mom and dad can have a carefree experience. These are our cash bars where members can come and do their transactions with an awesome member service rep." Tanner Cebuhar, Financial Services Representative, Numerica Credit Union
Hard Habit to Break
Counting cash is a hard habit for tellers to break but customers also need adjust to the change. It’s reassuring to see a teller counting cash so customers may be confused or uncomfortable, at first. Lisa Stecke, a teller at Advia Credit Unions talks about educating customers about recyclers.
We had to train the customers. “We're not going to count the cash back to you. We're just going to hand it you." We let them know in advance that it was coming. They have no problem with it. They take it, and "Have a great day."
“As a result, we have happy tellers, happy members, and happy management. Pretty exciting, just to see how far we've come with these machines."
Recyclers probably won't be life changing for your customers but they will notice the difference. It might be a faster, friendlier and more personal branch experience or the reassurance that their bank cares about their financial well-being. When the branch staff is happy, customers will keep coming back and that's a difference everyone notices.