Richard McMurdo / Richard is a principal consultant at Glory Global Solutions, the experts in cash-handling technology. Richard has more than 20 years' experience in bank automation and technology, currency management and payment systems.
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Cash centers and the future of retailer cash recycling

I believe that the job of any consultant is to look at things with a fresh pair of eyes and to question the way that things are done today, and to think about the way things could done be tomorrow....

Why is cash recycling an issue that's not all for one, but one for all?

The other day I ran a series of workshops for a major bank regarding a project affecting a number of different customer touch points. Given the wide-reaching nature of the project, attendees included employees from various divisions — retail, ATM,...

E-payments are to cash what Robin is to Batman

I am in the cash industry, but I am still not blind to the reality that societies, governments, and central banks worldwide are doing their utmost to reduce the number and value of cash payments. Cashless is being embraced with...

70 is the new 40, but can banks keep up with the pace?

On a cold and drizzly evening I found myself at home watching the '70s sci-fi flick "Logan's Run" and it occurred to me that if the main character, Logan 5, were alive today he would probably be working for a...

Where does the future come from?

In the banking industry and among those who commentate on it, talk of innovation and the "branch of the future" is rife. However, I've come to the conclusion that true innovation is rare.

Sentiment and science: reasons to keep the coin

It always saddens me when coins are taken out of circulation, and I’m very much of the belief that a coinless world wouldn’t necessarily be a better one. As the oldest standardized medium of exchange on earth, coins have existed...

4 things banks should be spending their money on in 2013

As we were finishing a lunch meeting the other day, the bank executive I was with laid down a challenge. He said, "Richard, my cab will be here in five minutes, so, taking into account the time it takes me...

The rise of the 'light' bank branch

In a recent article about what we can expect from branch banking in 2013, I predicted the rise of the 'light' bank branch. It's something that I thought was worth picking up on here, and expanding on slightly. So what...

From production line to personalized banking: Are we coming full circle?

The other day whilst getting around to eventually de-cluttering my loft, I came across a box of my old school exercise books. Flicking through my history book, I remembered lessons about the English industrial revolution and learning about inventors such...

Migrate the transaction, not the customer

Bird and animal migration tends to be driven by in-built needs related to food or climate. If only banks found it as easy to migrate customers … For a number of reasons, from richer data to cost benefits, there is a move for banks to encourage customers to bank through new channels such as online and mobile.

The clue’s in the name, or is it?

Why are banks the first to label themselves as "retail," but the last to behave like a retail store? In my last post I suggested that there were a number of things banks could learn from retailers in order to...

How can banks put the retail back into retail banking?

It's probably fair to say that around 90 percent of customers who go into a retail shop will purchase something, and so are profitable. Unfortunately, the same can't be said for retail banks.

Optimizing cash forecasting: How to transform idle cash into active cash

It's no surprise that customers still love cash; transactions are fast, convenient, anonymous and almost invariably free. However, while access to cash from the bank ATM or branch may be free for the consumer, making sure there is enough cash...

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