Financial institutions and banks are increasingly using automated processes to improve their efficiency and to eliminate the risk of human error. In addition to benefits for the institution, automation can enhance the customer experience. A simple way to begin automating your operation is through coin automation.
Coin Automation: What Is It?
Coin automation refers to the use of technology and machinery to automate various aspects of coin handling and processing, such as counting, sorting, wrapping, and dispensing. Coin automation can help increase efficiency and accuracy in tasks that involve large volumes of coins, and can give valuable time back to your team members.
There are various types of coin automation machines available, such as coin counters, sorters, and wrappers, which can handle different denominations and quantities of coins. Some machines can even detect and reject counterfeit or foreign coins. Through coin automation, you can reduce the time and effort required for manual coin handling tasks, ultimately reducing errors and discrepancies, and improving overall productivity in the branch. In fact, when manual transactions are automated, research shows that the result is an average of 38% reduction in teller turnover.
Total Coin Automation: The Fully Automated Coin Solution
Total coin automation is the more-advanced version of coin automation and refers to a fully automated coin handling and processing system that can handle all aspects of coin management, including counting, sorting, wrapping, and dispensing. Exclusively available from Coinstar for Financial, total coin automation combines advanced coin processing machines with fully-managed, human support to handle all of your coin management needs.
Unlike other coin automation options, Coinstar for Financial takes care of everything, eliminating the time your team spends on machine maintenance and coin processing. Our programs include a dedicated account manager, fully-managed coin pickups, bin capacity monitoring, kiosk health monitoring, service and support, and more.
We have total coin automation solutions for both in your branch and off-site, to reduce coin processing, shipments, and handling by 100% and improve the customer experience. The sleek Anthony kiosk, used in-branch, is one of the most technologically advanced self-service coin kiosks on the market today, engineered to automate your coin process and increase your bottom line. Outside the branch, Retail Remote Transfer allows your customers to transfer coins and cash directly into their checking account from any participating Coinstar kiosk. Retail Remote Transfer can be a great way to bring a total coin solution to your institution, covering both onsite and offsite coin counting for your customers, regardless of if you already offer self-service coin counting in your branch.
The Power of Total Coin Automation
Total coin automation has the power to enhance your operation, but how? The top five benefits of total coin automation include:
- Increased efficiency: Our kiosks can process large volumes of coins quickly and accurately, which can increase efficiency, and reduce the time and effort required for manual coin-handling tasks by 100%.
- Improved accuracy: Our coin automation system is highly accurate, reducing the risk of errors or discrepancies in coin processing. This can help reduce the likelihood of financial losses or accounting errors.
- Reduced labor costs: By automating coin handling tasks, total coin automation systems can help reduce labor costs and free up staff to focus on other tasks. According to Coinstar data, based on 2,300 transactions per year at an average of $5 per teller transaction, financial institutions can save nearly 10% on coin services through Coinstar kiosks.
- Enhanced security: Coinstar coin automation includes coin authentication and counterfeit detection, which can help prevent the use of counterfeit coins or other fraudulent activities.
- Increased customer satisfaction: Our advanced technology provides faster and more efficient service to your customers, leading to increased customer satisfaction and loyalty.
Fully Automate Your Coin with Coinstar for Financial
Take the weight of coin management off of your team’s shoulders with Coinstar for Financial’s comprehensive solutions. Our in-branch and off-site automation solutions are dedicated to keeping customers at the forefront of your business while helping enhance your efficiency.
Ready to tap into the power of total coin automation? Connect with a Coinstar for Financial expert to find your perfect solution. If you’ve already started automating your coin management with us, check out our full list of programs to see what additional features and services you can implement.