July 9 — Cummins Allison, a leading innovator and provider of coin, currency and check processing technology as well as ATMs, has announced the addition of a dual-bin coin collection unit to its coin product line: Money Machine® 2 self-service coin counter. The dual-bin unit provides financial institutions (FIs) more flexibility for coin collection while reducing coin pickup costs.
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July 20 – As all financial institutions know, the paper check is still a popular form of payment. In fact, more than 24.5 billion checks are still written annually, and researchers expect checks to remain a viable form of payment for the next 20 years1. Processing these checks is a time- and labor-intensive activity done separately from currency processing. Whether done in-house, by a central deposit processing center, or outsourced, check processing is a significant operational cost.
March 21 – One of the defining characteristics of the banking industry this year is the fact that the growth of digital technology has had a profound impact on the branch experience. As more organizations offer tools that make it easier for individuals to remotely access basic services, many banks may wonder whether a physical presence in local communities even matters anymore.
Community banks have long looked to technology to help them achieve operational efficiencies throughout the institution, from core processing to front-line teller operations. Technology has also been leveraged by many for competitive advantages, positioning the community bank to offer a wide range of services that will attract and retain customers.
The Innovative Solutions Awards, now in their fourth year, are recognized as the most prestigious awards for companies working to help community banks improve their operations, be more competitive, enhance their technical capabilities and increase their profitability. This year’s awards, sponsored by BankNews, had 38 entrants in four categories. Congratulations to the 2011 winners!