Customer visits to the bank branch are still frequently made to carry out ‘cash’ transactions. In the branch itself handling cash efficiently and securely is an essential aspect of cash management. Research carried out by Boston Consulting found that 70% of branch visits are to make a withdrawal or a deposit. Deloitte cite that 86% of current accounts are still arranged in the branch, demonstrating that customers still like face-to-face contact with their branch when looking at more complex banking transactions.
Without appropriate levels of automation, these transactions can be both expensive and time consuming to handle, with the inevitable build up of queues in the branch and a less than welcoming environment for customers.