Lisle, Illinois - 23 January 2024 Glory’s continued leadership in the delivery of Teller Cash Recyclers (TCRs) to financial institutions in North America has been confirmed by the latest report from independent strategic research and consulting firm RBR Data Services, a division of Datos Insights.
Published on December 21, 2023, the Global Branch Transformation 2024 study showed that Glory has a 54% share of the USA market and 22% of the Canadian market for Teller Cash Recyclers, resulting in 49.3% TCR market share for North America. Globally, the demand for Teller Cash Recyclers is expected to grow as recyclers continue to replace dispensers and enable branches to optimize operations.
Changing consumer behaviors, like moving to digital banking, make it harder for banks to remain profitable. Even with banks consolidating branches, it is generally recognized that the brick-and-mortar branches continue to play an important role in overall customer satisfaction and brand awareness. Bank branches play a key part in developing customer trust through effective and efficient teller interactions and services provided.
The deployment of TCRs has enabled banks to deliver a complete portfolio of services in the most cost-effective manner, while making best use of branch staff. Teller cash automation enables branches to eliminate manual counting errors, enhance cash security, reduce CIT visits, and allows staff to spend more time on customer interactions and high profit services.
“Even though some markets are moving to smaller footprints and less branches, banks continue to prioritize investments in automation that optimize cost and improve the customer experience,” said Rick Friese, EVP Financial Markets – North America. “The launch of the GLR series in 2023, our newest innovation in Teller Cash Recyclers, is a demonstration of our continued investment in supporting the changing needs of our banking customers. This line was designed with multiple deployment modes to meet the evolving needs of financial institutions – traditional teller operated, customer facing and self-service.”
The RBR Data Services report provides further evidence that the branch banking environment is changing. It is anticipated that the number of branches in North America will decline slowly over the next five years, as will the number of staff employed in branches. However, the number of TCRs deployed in Canada is expected to increase at a CAGR of 5% to 2028, and the USA is predicted to grow at a CAGR of 3% to 2028. This incline demonstrates that branches are moving towards automation solutions to maximize branch efficiency and transform to meet changing consumer behaviors.
The report is a regular assessment of current and future deployment levels of Teller Automation Units and Assisted Service devices in 20 countries worldwide. It is based on in-depth interviews with financial institutions and vendors.
Glory works with major financial institutions around the world and has TCR solutions deployed in each of the 20 countries covered in the RBR Data Services report. The analysis concludes that Glory continues to be the number one supplier of TCRs in the Americas, Asia Pacific and EMEA markets.
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As a global leader in cash technology solutions, we provide the financial, retail, QSR, 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 11,000 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.
About RBR Data Services
RBR Data Services provides clients with independent and reliable data and insights through published research, consulting and bespoke data services. Our global research covers the cards and payments, retail technology and banking automation sectors and is used by the leading market participants, analysts and regulators as the authoritative source of industry and competitor benchmark data. For any questions about this release, please contact email@example.com.
About Datos Insights
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils.
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