For the consumers looking for more efficient and convenient ways of doing banking processes, Interactive Teller machine is the answer. It has presented a whole new way of handling customers and making them more interested in banking operations. Modern banking institutions are increasingly adopting video remote tellers, also known as interactive tellers. 

These are real-time experience machines that enable customers to interact and perform banking operations at the same time. For the convenience of customers, these machines are fitted with a touch screen, handheld phone, and buttons. 

Functions of an interactive teller machine 

• Deposit bills and checks
• Perform card-less transactions
• Cashing checks for bills
• Perform fund transfers 
• Opening new accounts
• Order debit card replacement
• Place inquiries and perform CD renewals
• Make credit card payments

Other popular names for Interactive teller machine

• In-Line Teller (ILT)
• Personal Teller Machine (PTM)
• Teller Assist Unit (TAU)
• Automated Interactive Teller (AIT)
• Video Teller Machine (VTM)

Benefits of interactive teller machine for customers

• Consumers can efficiently perform ID verification if their credit card is stolen or lost.
• The teller machine can dispense any amount of cash, including any denomination of bills. It also helps in Cash Automation. 
• Users get the convenience of human touch and real-time interaction, which is nowhere available with ATMs.

Benefits of interactive teller machine for financial institutions

• The interactive teller machine enhances the user experience by making the banking operations more convenient. 
• The availability of banking support gets extended. Customers can even perform banking operations at odd hours.
• With the usability of the interactive teller machine, the employees can be freed and made available for high-level operations.
• As the machine enables 75% of banking operations without the involvement of banking professionals, it saves a lot of costs associated with them. 
• Financial and banking institutions can go global, defying the geography and hours of banking operations. 
• Financial institutions are capable of providing real-time connectivity without the risk of offline incompatibilities. 
• The teller machine decreases the cost per transaction and saves a fortune for financial institutions. 
• Being modern and competitive technology, the machines give financial institutions a pace ahead of the competition.  

With so many benefits for financial institutions and their consumers, the Interactive Teller machine is a good investment. Contact www.bankersequipment.com for information. Bankers Equipment offers a wide range of equipment solutions for banking institutions, casinos, and retail units. 

Handling a retail business is quite a job. From managing product inventory to taking care of cash management, you need to do everything single handily. But here good news for you – a Currency Discriminator can ease the hassle of cash management. This revolutionary equipment has sent waves of relief to retail business owners. Let’s see how this equipment helps with cash management. 

A currency discriminator is an electronic device that helps count the cash and identifies the difference between currency denominations. This device is an up-level version of a currency counter with a more advanced feature. The device gives you a proper breakdown of denominations for a pile of mixed bills. 

Therefore, at the end of a successful day at the billing counter, you don’t need to worry about counting the bills and segregating the various denominations received. For Retail Cash Management, it is one of the best technological innovations made to date. 

Benefits of owning a currency discriminator in retail business 

This is a small but powerful device for all your cash management issues. But if you are still not convinced, here are three benefits to pay attention at. 

Saves money and time

Often retail businesses keep an extra staff for cash counter and management. The responsibility of this person is to collect the cash, count it and separate different denominations and keep track of data. But once you make use of this device, you need to pay extra to your staff. It counts the money within a few minutes, tells the denominations received, and often keeps records for the end month audit. 

• Eliminated fraud

There is always an open risk of theft and fraud when dealing with money. Although all retail businesses have trustable employees, time and tide can change quickly. Therefore, a currency discriminator is the best solution for cash management. It is devoid of theft and fraud. The best part about the machine is – it also discriminates the counterfeit bills. 

• Reduction in counting errors 

Humans are prone to error-making while counting, but machines are not. You can depend upon the count of the device without any doubt. These currency counter and discrimination machines are error-proof and tested. Therefore, purchase the machine now instead of spending hours counting bills and separating them based on denominations. 

Currency Discriminator – A great investment in business 

As a business owner, you regularly make an investment for the betterment of your business. So, if you deal with a lot of cash daily, invest in a Currency Discriminator. It will streamline your cash management. To learn more about the device and purchase it, visit the website www.bankersequipment.com.  

Cash's availability, ease of use, and confidentiality are just a few of the reasons why it is still a strong pillar in the current marketplace and the favored payment method for millions of people.

To stay up with a changing corporate world, the technology we use to handle and manage cash is fast expanding. Cash management is a particularly popular area, and many organizations are making use of it to reap a variety of benefits-

Managing Cash In an Effective and Cheap Way

"Although more consumers are adopting online payment alternatives, there is still a big percentage of buyers who prefer to use cash for a variety of reasons," Saunders points out. "Cash isn't going away anytime soon, so shops must keep this payment option available to meet demand."

As a result, it's critical for companies to improve how they manage their cash flow at the money counter.

"Where cash automation technologies come in," adds Saunders, "retailers must balance the need to allow cash payments with the need to streamline their operations and ensure the business can be run securely."

Cash mechanization brings the operations and maintenance comfort of electronic payments to physical money, comparable to the advantages of contactless payments, by greatly reducing manual supervision and the possibilities for mistakes in payment processing.

Putting Cash Automation to Work

In practice, how do cash automated systems look?

These innovations, including digital payment choices, automate portions of money management. Cash automation is still in its early stages, but cash counters and discriminators, cash recycling plants, and intelligent safes are some of the most typical uses

"The management of currency bills and coins will be revolutionized by cashless automation technologies," he believes. "Shop owners who predominantly run cash-based enterprises are currently devoting a significant amount of time to cash duties."

When compared to counting and categorizing money by hand, the length of time saved by a machine that can number and categorize money in minutes is enormous. This is not even taking into account the improved precision.

Do you require assistance regarding your cash automation process at your money counter processings, feel free to connect with Bankers Equipment today and have your choice of cash automation solutions right away.

Organizations of all types are embracing cash automation employment manual tasks in the age of digital transformation, then diverting the time and energy saved into offering differentiated user experiences. This trend covers a lot of ground when it comes to cash handling.

Cash Automation refers to the process of counting, dispensing, and managing cash using specialized technology in order to improve accuracy and lower costs associated with manual cash handling. The following are some examples of common products and solutions:

Cash registers

A currency counter does precisely what it says on the tin. When compared to manual counting, the advantages are faster and more accurate cash counting. High-speed single-pocket counters can value count a variety of currencies while also detecting counterfeit notes.

Sorters of money

A cash sorter can count mixed denominations in one pass and provide a value count and denomination breakdown. Two or more pocket machines continuously process currency and can separate counterfeit bills into separate pockets.

Cash sorters with three or more pockets can count and value mixed currency, sort by denomination and orientation, and detect counterfeit notes.

Recyclers of cash and coins

The entire cash cycle is automated with a cash and coin recycler: accepting and dispensing cash, securely storing banknotes and coins, and tracking cash on hand. Transactions, reconciliations, and deposit preparation are all sped up thanks to the technology in these machines. Provisional credit and CiT (Cash in Transit) options are available to customers who use cash recyclers.

What are the advantages of your company?

As a cash business owner, you may see fluctuations in your cash on hand at any time of day, week, or month. The cash that is securely deposited into your cash and coin recycler is made available to you using cash automation Insight software and provisional credit, which is daily credit issued to your account by your bank.

Since the first credit cards were introduced in the early twentieth century, we've been hearing about the coming "cashless society," but cash is still around. Even with an ever-growing number of smartphone-based digital payment platforms (e.g., PayPal, Apple Pay) and cryptocurrencies, cash appears to be here to stay.

Low-cost and time-saving

Cash automation technology is being used by businesses of all sizes to improve security and accuracy while also saving time and money. Consider the advantages of cash automation if your business relies heavily on cash transactions. Cash transactions typically involve small amounts of money, making it even more important to spend as little time and money on cash handling as possible.

Make a phone call to the cash-handling experts.

From the cash automation experts at Bankers Equipment, learn how your business can benefit from cash automation technology. We've been assisting businesses for over a century, and we can help you find the right cash handling and storage solutions for your company. For friendly, knowledgeable service, call us at 952.890.6661 • 888.890.6661, or stop by our showroom. 

To add up bills and coins, you no longer need to use a calculator. In recent years, cash management technology has advanced significantly helped in branch transformation, and there are now various smart solutions available for the retail business.

From point of sale through bank deposit, Retail Cash Management is designed to automate the whole cash handling process. A retail organization will benefit in various ways by transitioning from manual cash handling to cash management. Here are six reasons why retail cash management is a good idea.

Improved Efficiency within Potential Time-slots

The time spent reconciling and balancing the cash register is inefficient and diverts attention away from more productive tasks.

Because neither the manager nor the workers will have to deal with money, they can concentrate on running the firm and creating revenue. The exact time savings will vary depending on the size of the store, but cash management can save cash handling time by up to 50%.

Outstanding Customer Support

Nothing is more aggravating than attempting to obtain assistance and discovering that no store assistant is accessible. Employees are frequently found in the back of the business, preoccupied with chores such as counting the till during shift change, rather than offering customer assistance in the front.

You must free up workers for more client-oriented work these days when customer service is critical to staying ahead of the competition. Counting money is done automatically when cash management is in place.

Completely Accurate

Customers are always given the correct amount of change when cash management is used. Additionally, the staff is not required to stay late to count today's cash.

The solution calculates the money for you automatically and correctly every time. There's no need to count again or recount, and there's no chance of counting mistakes.

Reduced Investments

The cost of cash is reduced by 30% thanks to Cash Management. To begin with, you lower your costs by streamlining your business operations that thereby help in further branch transformation.

Because currency is securely secured and sealed, you will have cheaper CIT and insurance costs. Do you know that a retail cash management system can generate a return on investment in as little as seven months?

Improved Earnings

Every cash transaction will take less time, and with fewer lines, more clients will be served. Furthermore, the time saved every day by eliminating money counting frees up time for sales campaigns and customer care. A well-run branch transformation, with exceptional customer service, of course, attracts more customers.

If you run a retail store, you should think about investing in a retail cash management system. It will surely benefit your company in a variety of ways.

Are you curious about how retail cash management is actually implemented? Simply get in touch with Bankers Equipment right now!!!