New RBR report confirms growing marketplace and Glory leadership
Basingstoke, UK – 6 March, 2019 A new report from independent strategic research and consulting firm RBR confirms GLORY's position as the leading supplier of Teller Cash Recyclers (TCRs) and Teller Automation Units (TAUs) to financial institutions in EMEA, Asia Pacific and the Americas. The report indicates a Glory worldwide market share of 53 percent for teller cash recyclers and 55 percent of total TAUs. These figures do not include solutions for OEM licence sales with other companies which, if they were included, increase Glory’s share to 56 and 58 percent respectively.
As financial center use continues to change to reflect the needs of both traditional and “digital first” clients, financial institutions worldwide are looking at ways of ensuring a cost-effective and efficient physical presence as part of omni-channel service delivery. Traditionally, teller cash automation has been expected to deliver improved accuracy, enhanced security and greater customer interaction. More and more, the automation of teller cash transactions is also implemented as a catalyst for the transformation of the branch network, enabling more open plan designs and smaller footprint premises.
So what's new this year? Michael Bielamowicz, Glory’s Chief Marketing Officer said 'We are particularly pleased that the 2019 report confirms a growing US market, stability with some market redistribution towards us in EMEA, and an expanding use of teller cash recycling in SE Asia. Teller cash automation, unlike ATM, remains a growth market. Significant numbers of retail financial institutions continue to recognise and realise the benefits of enhanced branch automation. We are thankful that so many are choosing to work with Glory to deliver these benefits to their customers and shareholders.’
RBR’s methodology includes direct interview of major end users, indirect analysis of third-party data, and comparison of these sources with data provided by suppliers. The RBR report reveals that the US is the largest market for TCRs, accounting for 27 percent of the worldwide market at the end of 2018, followed by EMEA.
RBR reports that Glory has provided 60 percent of currently deployed TCR’s in the Americas, 47.6% in EMEA, and 71% in Asia Pacific.
TCRs accounted for 79 percent of all Teller Automated Units in 2018 and it is anticipated that the market share of recycling units will continue to grow. In total 181,297 TAUs were installed as of end 2018 and this is expected to grow to 193,800 in 2023, by which time 89 percent will be TCRs.
In addition to Teller Automation solutions, Glory’s assisted service solution TellerInfinityTM; coin solutions and banknote sorters and counters are helping financial institutions around the world automate their cash processes across the entire branch.
RBR's Teller Automation and Branch Transformation report is a bi-annual assessment of current deployment levels of TAUs (including Teller Cash Recyclers) in 23 countries worldwide. As well as calculating market size, it identifies the market drivers and inhibitors of deployment. All data and other information in the report is the responsibility and copyright of RBR.
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As a global leader in cash technology solutions, we provide the financial, retail, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals — enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing over 9,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.
For further information please visit https://www.glory-global.com or follow us on Twitter: https://twitter.com/glory_global.
Director of Global Marketing
+44 7887 052366