Sicoob UniMais, part of Sistema de Cooperativas de Crédito do Brasil, has transformed their teller cash handling processes at its Bandeirante branch using Vertera teller cash recyclers (TCRs) from Glory Global Solutions.
Deploying Vertera, has accelerated and simplified withdrawal and deposit transactions while also delivering enhanced security for the operations team. Thanks to Glory’s Vertera TCR the Bandeirante branch has optimized branch operations, and significantly reduced the treasury workload.
The Vertera is part of Glory’s range of innovative solutions for cash automation and management. It is a user-friendly device, providing secure and flexible storage of banknotes, delivering high performance in a compact footprint. The, Vertera is delivering tangible benefits to the SICOOB across multiple areas of the branch, presenting an integrated, effective solution to address challenges faced by tellers and branch executives and improving the level of service the bank delivers to its customers every day.
Before deploying the solution, insurance limitations on the amount of cash held in teller drawers resulted in multiple intra-day vault buy and sell transactions. Each vault transaction required closure of the teller station interrupting customer service, a manual count of the cash and oversight from a supervisor.
Following deployment of the Vertera solution, the need for transfer of cash between tellers and the vault has reduced by 80%, resulting in less disruption to customers and a 40% decrease in employee overtime.
“The pilot project and the Glory team monitoring it were critical in the successful deployment. The support that was provided ensured our staff and customers felt comfortable that the solution was reliable.”, said Flávia Santos, treasurer at Sicoob’s Bandeirante branch. ‘This process was fundamental to achieving acceptance from the branch team and successful introduction of the device into our operation.’
The level of service delivered to Sicoob’s customers has improved significantly, through greater speed, and accuracy of transactions involving cash.
Eqaully, the Vertera solution has enhanced teller efficiency. Previously the branch had 5 tellers working full time plus a backup to cover break times. Automation of cash handling has now resulted in a reduction to 4 full time tellers without compromising the queue time. The Glory solution also accelerated start and end of day processes for both tellers and treasury and reduced cash discrepancies.
This productivity increase made it possible for the bank to redeploy staff to customer assistance roles without the need to hire new staff. In addition to improving the branch cash processes, the Vertera has improved the efficiency of Supervisory Board and Internal Control audits, as the banknotes are received already validated and sorted simplifying the process of verification, reconciliation and oversight.
“Glory is focussed on delivering solutions that directly drive business benefits for our customers. By understanding the detailed challenges faced by SICOOB UniMais we were able to craft a solution which addressed their specific needs, transforming the cash management processes across the branch to reduce costs and improve the service they deliver to their customers” said Edson Matunaga, Glory Global Solutions’ Latin America Managing Director.
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About Glory Global Solutions
Glory Global Solutions is a global leader in secure cash management solutions. Operating across the financial, retail, cash centre and gaming industries, businesses in more than 100 countries rely on our solutions to enhance staff efficiency, reduce operating costs and enable a better customer experience.
Headquartered in the UK, Glory Global Solutions is a wholly owned subsidiary of GLORY Ltd. Employing over 3,000 professionals worldwide with dedicated R&D and manufacturing facilities across Europe, Asia and North America, Glory Global Solutions is GLORY’s international sales and service organisation. Built on a rich customer-focused, technology-driven heritage spanning almost a hundred years, GLORY is a pioneer in the development and manufacture of cash management, vending and automatic service equipment.
Sicoob UniMais Bandeirante is a credit union, founded in 1999, formed by 11,000 members, among health, micro and small enterprises. Its mission is “to hold and simplify members social and economic state in a way that is satisfactory”. Currently, Sicoob has 15 branches and 1 banking correspondent, which are spread around the cities of Americana, Santa Bárbara d’Oeste, Nova Odessa, Piracicaba, Tietê, Botucatu, Avaré, Assis, Ribeirão Preto and Itatiba.
Sicoob is the biggest system of credit unions in Brazil, and is #7 in the ranking of the National Finance System, with R$14 billion in assets.
Glory Global Solutions
Director of Global Marketing
M: +44 (0) 7887 052366
Sicoob UniMais Bandeirante
Eliana André da Silva
Communication Analyst/Press Accessory
+55 19 3476 5070
+55 19 997 704 102