People are accomplishing more “from home” than ever before—learning, working, and banking from the comfort and safety of their couches, kitchen tables, and home offices. And while some of the new ways of doing things we’ve picked up in 2020 will be temporary (please tell us that virtual kindergarten is one of those!), others are here to stay.
Before the pandemic, the rise of digital banking was already making waves in our industry. Banking activities we used to rely on branches for had already gone virtual: depositing checks, opening and closing accounts, and transferring funds can all be done from a smartphone. While the digital wave significantly slowed branch traffic, the pandemic brought it to a grinding halt.
As lobbies are opening back up, there’s a new concern among bank and credit union leaders: providing a safe environment for employees and consumers. Many people are feeling anxiety about returning to more “normal” activities—and it’s up to institution leaders to ease these concerns inside the four walls.
Coin from home?
Not yet. Coin handling is still a largely physical endeavor. While we haven’t figured out how to make “an app for that,” we can provide the next best thing: Coin to Deposit technology.
Coin to Deposit can be installed on any Coinstar for Financial kiosk; it allows consumers to deposit coins directly into their account right from the kiosk—all while maintaining a safe physical distance from others in the branch. And while the consumer does have to interact with the touch screen on the kiosk, this process is completely contactless for your branch team members.
Coin to Deposit: How It Works
Any bank or credit union leader who’s gone through a core system implementation or upgrade might shy away from the idea of adding more software to your institution’s repertoire…but we promise, this won’t hurt a bit. Here’s how it works.
- Initial consultation. Your Coinstar expert will gather all the information necessary to hit the ground running on setting up your Coin to Deposit technology.
- No core integration required. Coin to Deposit’s proprietary approach eliminates the need for the time-consuming, arduous process of core software integration. We also have a full technology support and development team to help make the process painless.
- Test transactions. We’ll work closely with your card services team to run test transactions, following them all the way through your system to ensure they are routed properly.
- Launch. After successful testing, we will push your Coin to Deposit program live so you can start experiencing the benefits in your branch!
It’s that simple. There’s no IT integration required and Coin to Deposit interacts seamlessly with the industry’s leading card networks, including VISA, MasterCard, STAR, NYCE, PULSE, and Accel, to name a few. And you’ll have your Coinstar for Financial team by your side throughout the whole process to make your Coin to Deposit integration as painless as possible.
The Next Normal: Are You Ready?
As you establish your strategies for the upcoming fiscal year, ensuring your institution can adapt to new societal paradigms will be critical to success. Technologies and business practices that enable social distancing and self-service will increase consumer’s and team member’s comfort level as they return to the branch lobby.
Have questions about how Coinstar for Financial can help prepare your branch network for the future? We’re ready to help! Get connected with your Coinstar for Financial representative today to get started.