Fully 59 percent of all teller assist units (TAUs) currently installed globally are manufactured by Glory, according to the latest Teller Automation and Branch Transformation report by strategic research and consulting company RBR. The report also shows that Glory’s share of the market for teller cash recyclers (one aspect of teller automation) has increased since RBR last released its figures in 2013, from 50 percent to 52 percent. Glory is now the leading manufacturer of teller cash recycling units in 20 countries [or of TAUs in 19 countries worldwide], including in the USA, Italy and Germany.
In recent years, banks and financial institutions have responded to changing customer behavior and evolving cost pressures by adjusting the format, technology and staffing levels of their branches with a general move towards teller automation. The report by RBR found that the most significant drivers of TAU deployment continue to be increased efficiency, security and accuracy compared to manual teller systems.
The report, which looked at TAU installations up to the end of 2014 and forecasts to 2019, found that there were 178,800 TAUs installed worldwide as of last year. Of these, 61 percent were recyclers and 38 percent were dispensers, the former having seen a compound annual growth rate of 9 percent since 2010. RBR predicts that the number of TAUs installed globally will increase to 212,800 by the end of 2019 (compound annual growth rate of 4 percent). The two largest markets for TAUs continue to be the USA and Spain (26 percent and 20 percent of the global market respectively), but it is expected that Italy will overtake Spain as the second largest market by the end of 2019.
Glory manufacturers a range of TAUs including recyclers and dispensers. They include the RBG-100, Vertera 6G, Vertera Teller Cash Recycler, Vertera Secure Transfer Concept and the Benchmark Series 7 Cash Dispenser.
Ben Thorpe, Director Global Marketing & Strategy at Glory Global Solutions, commented: “RBR’s report shows that Glory is at the forefront of the transformation taking place in branch banking. Banks and other financial institutions are consistently realising the benefits of teller automation, especially in terms of increased efficiency, security and accuracy. We are delighted that Glory’s technology continues to be the first choice for so many of those institutions in the biggest markets around the world.”
Dominic Hirsch, Managing Director at RBR, added: “The increasing popularity of internet and mobile banking and the consequent fall in the numbers of branch visits, along with wider cost pressures, are driving transformational changes in banks’ branch strategies. RBR’s latest report shows that these new style branches have increased the business case for TAUs.”
RBR’s Teller Automation report is a bi-annual assessment of the current deployment levels of TAUs among banks and other financial institutions. It also evaluates the future potential for TAUs and other new teller automation solutions in 26 countries worldwide, identifying the main market drivers and inhibitors of TAU deployment. RBR interviewed 108 institutions for the report and took data from a further 78 institutions.
