News

Cummins Allison coin machine installations see threefold growth

September 7, 2016

Cummins Allison, a provider of ATMs as well as coin, currency and check processing technology, has achieved a threefold increase in installations of its self-service coin product line within financial institutions since 2010, the company announced today in a press release.

"The success of our self-service coin product line, specifically the, Money Machine 2 is related to two clear needs in the FI market: the automation of functions historically performed by tellers and high-value service offerings that retain and grow branch clientele," said company CEO William J. Jones. "Our self-service coin programs help banks and credit unions achieve their branch transformation goal of creating a more efficient branch."

Financial institutions can automate the handling and processing of customer coin deposits by interfacing the Money Machine 2 with their core system. Cummins Allison also offers turnkey solutions to pick up and process coin, eliminating potential liability for the FI, the release said.

"Investment in customer-centric self-service technology is no longer optional in today's highly competitive financial services industry," Jones said. "In addition to differentiating [an FI's] offerings, self-service coin machines can increase branch foot traffic by as much as 20 percent, providing sophisticated FIs with an opportunity to discuss other value-added services with customers when they visit the branch to make coin deposits."