Two-thirds (67%) of all teller assist units (TAUs) currently installed in the United States are manufactured by Glory, according to the latest Teller Automation and Branch Transformation report by strategic research and consulting company RBR. Furthermore, at the end of 2016 in the U.S., Glory accounted for 65% of teller cash recyclers - the primary component of TAUs for the teller automation market.
Glory is the leading provider of teller cash recycling units in 18 countries, manufacturing a range of TAU recyclers and dispensers, including the RBG series and Vertera series cash recyclers.
In recent years, banks and financial institutions have responded to changing customer behavior and evolving cost pressures by adjusting the format, technology and staffing levels of their branches with a general move towards teller automation. The report by RBR found that the most significant drivers of TAU deployment continue to be increased efficiency, security and accuracy compared to manual teller systems. Another factor is redeployment of staff to more advisory-based roles as branches move away from traditional teller windows.
The report, which looked at TAU installations up to the end of 2016 and forecasts to 2021, found that there were over 185,000 TAUs installed worldwide as of last year. Of these, 69% were recyclers and 31% were dispensers, the former having seen a compound annual growth rate of 9% since 2012. RBR predicts that the number of TAUs installed globally will increase to over 196,000 by the end of 2021. The largest market for TAUs will continue to be the U.S. at an expected 40% of global shipments.
Chris Reagan, President, Americas at Glory Global Solutions, commented: "RBR's report shows that teller automation remains a key element within our US customers’ branch transformation efforts. We are pleased that so many banks, credit unions and other US financial institutions choose Glory to enable increased efficiency, security and customer engagement."
RBR's Teller Automation and Branch Automation report is a bi-annual assessment of the current deployment levels of TAUs among banks and other financial institutions. It also evaluates the future potential for TAUs and other new teller automation solutions in 26 countries worldwide, identifying the main market drivers and inhibitors of TAU deployment. RBR interviewed 86 institutions for the report and took data from a further 46 institutions.
Glory Global Solutions is a global leader in secure cash management solutions. Operating across the financial, retail, cash center 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 organization. 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.
RBR is a strategic research and consulting firm with three decades of experience in banking and retail automation, cards and payments. It assists its clients by providing independent advice and intelligence through published reports, consulting, newsletters and events.