News

Glory introduces 'plug and play' electronic teller drawer

The Vertera ETD authenticates, counts, validates, stores and recycles deposited banknotes and then dispenses them automatically as needed.

October 13, 2015

Glory Global Solutions, a provider of cash management products, has announced the unveiling of a new cash recycling device, the Vertera ETD, today at BAI Retail Delivery 2015 in Las Vegas.

According to a company press release, the single-user, single-custody 'personal cash recycler' replaces a bank teller's traditional cash drawer, and also provides lockable space for rolled or loose coins or other items of value.

The Vertera ETD eliminates the need for manual cash counting — authenticating, counting, validating, storing and recycling deposited banknotes and dispensing them automatically as needed.

The elimination of redundant counting of banknotes allows faster transaction times and reduced wait times. A simplified day-end process also makes balancing fast and simple, reducing staff stress at the completion of a shift, according to the release.

The Vertera ETD occupies a relatively small footprint and reduces the complexity and associated cost of implementing full teller cash recycling in a bank branch, while still realizing many of the benefits, Glory said.

Installation and construction costs are near zero since the unit simply replaces the traditional teller pedestal and fits in confined areas. There are no significant changes to daily teller operations and security is comparable to a typical cash drawer or cash trolley, the company said.

"Consumers are demanding an evolution in the relationship with their bank branch, with convenience featuring heavily," Glory Vice President of Marketing and Sales Operations Joe Gnorski said in the release. "Bank branches are, therefore, increasingly required to be more attractive and flexible spaces that offer higher-margin services with a genuine human touch. The Vertera ETD is a great starting point ... for moving traditional bank tellers toward 'universal banker' client service roles that nurture deeper customer relationships."