No matter how savvy you are with cash-handling equipment, all financial institution branches are unique and have different requirements, which can make the task of choosing an integration solution for your Teller Cash Recycler (TCR) even more challenging.
Attempting to choose which integration method will work best with your current setup and branch environment is something you will want to research at great lengths. As is identifying workflows and how you want the branch setting to evolve once the integration strategy is deployed.
Making The Selection
The TCR authenticates incoming bank notes and securely stores the cash in an internal vault and then provides the capability to process automated cash transactions for the tellers from the cash inventory, including deposits and withdrawals.
When it comes to choosing teller cash recycler integration systems, there are several factors you should consider: ease of use, the cost, functionality, and scalability. Each banking branch has their specific way of doing things. Therefore, it’s important to find a system that works best for you.
Integration Options
There are three main types of integration options: Standalone, Soft (also known as Middleware) and Direct Integration.
Stand-Alone Workflow Application
With the Stand-Alone Workflow application option, the teller application does not communicate directly to the cash recycler system. Within the system, there is a separate piece of software that is installed on the local level. As the teller makes a transaction, they toggle back and forth to duplicate what they just processed in a stand-alone application (double entry). At the end of the business day, all associates must balance both the TCR and the teller application. While dual entry of each transaction by the teller does create an opportunity for error, there are a few benefits of the stand-alone feature.
• Learning the application is easy for the teller • Low cost to implement the application • Money remains secure inside of a vault • Allows partial automation of a back room or a vault operator that is outside of the teller line
Middleware Applications are the most popular option today due to their low cost infrastructure and keen functionality. In the soft-interface environment, a localized application creates the ability for that application to talk directly to the device (the TCR). In simple terms, unlike the stand-alone application that talks between two separate systems; the soft interface acts as a translator between the device, so it’s completely transparent and safe for the end user. This allows the institution to leverage the full functionality and efficiency of the TCR accurately and skillfully.
Because the soft-integration is not connected to the core, reports must be pulled and balanced at the end of the day. This means the operator will need to buy or sell depending on the TCRs daily usage to reconcile. The balancing is quick (approximately 3 minutes) and leaves a documented trail of the day-to-day transaction history. Middleware Applications allow for scalability of the branch transformation strategy and equipment upgrades.
Direct Integration Workflow Application
While direct integration is a choice by many institutions, it also comes with the highest price tag. When implementing a Direct Integration Workflow Application, the teller application sends and receives commands from the device itself. A hardcoded interface between the actual hardware and software allows for real-time posting. This also means that no double balancing is needed at the end of the day. It’s easy for the operator to use and is much less disruptive to integrate and automate the teller away from a manual environment. Changes due to equipment updates and scalability to this infrastructure can be time consuming and more difficult since it directly affects the institution’s core.
Choosing the Right Application
We’ve helped hundreds of financial institutions set up their cash automation. Always keep in mind that the most important aspect of choosing the right application for a teller cash recycler is having a good understanding of the company’s teller environment. Keep in mind the factors of ease of use, functionality, scalability, and your specific situation.
