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 the Americas, EMEA and Asia Pacific regions. The report indicates Glory as the #1 worldwide leader for teller cash recyclers and TAUs.
As digital disruption continues to change consumer preferences, financial institutions worldwide are looking at ways of ensuring a cost-effective and efficient physical presence as part of their omni-channel service delivery. Teller cash automation delivers improved accuracy, enhanced security and greater customer interaction. More and more, the automation of teller cash transactions is also implemented as a catalyst for branch transformation, enabling more open plan and smaller footprint designs.
So, what’s new this year? Michael Bielamowicz, Glorys Chief Marketing Officer said ‘We are particularly pleased that the 2019 report confirms a growing US market, stability with some market redistribution towards 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 recognize and realize 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.
RBRs 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. The RBR data shows that Glory is the #1 leader for both TCRs and all TAUs in the US as well as in all of North America.
Chris Reagan, President, Americas at Glory, commented: RBRs report is a significant indicator that teller cash automation matters to our US customers and their branch transformation efforts. Banks and Credit Unions continue to choose Glory and we are proud our solutions help them focus on their customer, rather than counting cash.
TCRs accounted for 79 percent of all Teller Automated Units globally in 2018, and the report anticipates that the market share of recycling units will continue to grow. In North America, for instance, a total 71,775 TAUs were installed as of end 2018, and this is expected to grow to 91,250 in 2023, by which time over 83 percent will be TCRs.
In addition to Teller Automation solutions, Glorys assisted service solution TellerInfintyTM, 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.
Director of Global Marketing