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Financial Institutions Archives - Financial Equipment for Retail & Financial Institutions | Edge One LLC

Staffing Shortages in Banking
Does your branch experience reflect the new normal?

Help Wanted Sign in Window - Staff Shortages in Banking

The last couple of years have been difficult. The pandemic showed up and turned the world upside down. In 2020, as the government and health professionals sought to contain the spread of Covid-19, life changed. Schools closed and many began working from home. We saw businesses faced with the difficult decisions of shutting down or finding safe ways to continue operating. The impact was devastating. Too many businesses were unable to recover. Those who have, have had no other option but to adapt.

In 2021 we saw things begin to open back up. With the availability of vaccines, mandates and regulations have begun to lift. People have returned to the activities they had missed. Going out to eat, taking in a movie, watching live music. Things have seemed to be returning to some form of “normal”. Yet, there is something that didn’t return. Workers. By now, everyone has seen the “Help Wanted” signs everywhere. Restaurants, retail stores, healthcare, and even banks are looking for help. For many, returning to work was either too risky or not an option due to individual circumstances. Every industry is experiencing some sort of staffing shortage, and it is impacting everyone. Flights are being canceled, there is a disruption to the supply chain, and some stores have reduced their hours or closed completely. Businesses are once again looking for ways to continue to operate or face going out of business.

Help Wanted Sign in Window - Staff Shortages in Banking

Increasing efficiency during staffing shortages

While adding staff would be a seemingly simple solution, this staffing crisis doesn’t seem to be going away anytime soon. One way that businesses can help mitigate this situation is by improving efficiency. By automating time consuming tasks, businesses can get more done with less manpower. This not only has the obvious benefit of remaining open and operational but can also help to save money. At Edge One, we offer a selection of equipment and services that can help you to improve the efficiency of your business operations.

Cash Automation

For businesses who handle a lot of cash, employees must take time away from other duties to count down tills, perform audits, and secure cash. Manually handling cash is not only a time-consuming process, but it increases the risks of theft. Security experts estimate that between 25 to 40 percent of employees steal from the companies they work for. The use of cash automation technology can reduce the amount of time staff spends handling cash. This reduces theft and accounting errors while improving the ROI.

    Edge One Cash Automation Products

Cash Recyclers

Coin Counters & Sorters

Cash Discriminators

Self Service Bank Kiosk

Self-Service Kiosks

The pandemic forced banks to close their doors and encourage their customers to use alternatives for their banking needs. Contactless options, such as digital banking and drive through tellers, have allowed banks to safely continue to service their customers.  Now, financial institutions are facing the staffing shortages that are plaguing other industries. Banks and credit unions must find new ways to increase efficiency while. By using Self-Serve technology, they can enhance their customer/members relations and improve teller efficiency. Products, such as NCR’s SelfServ line, allow customers the option to handle their own banking transactions 24 hours a day, 7 days a week. This frees up tellers to focus their efforts on other tasks, while still providing your customers access to the services they need.

Interactive Tellers (ITMs)

ITMs provide another way that financial institutions can further optimize their business operations. Drive through teller lanes have helped banks and credit unions service their customers/members during the pandemic. However, one downside has been longer lines and increased wait times. And you still need branches adequately staffed to manage these lanes. Virtual tellers offer a way to maintain that “face-to-face” contact using less tellers. Tellers can be located in a single centralized location, with the ITMs as their satellite locations. Many financial institutions who have adopted Virtual Tellers have found they needed less real estate to service the same number of customers.

Woman using an interactive teller ITM
White Armored Car - cash-in-transit services from Edge One

Armored Services

Another opportunity to improve efficiency is with armored car services. No need for staff to transport deposits, taking up valuable time and risking robbery and theft. Armored vehicle services can handle cash and check pickups, processing, and ensure your ATMs / ITMs are always ready for customers with cash replenishment. Free up your existing staff so that they can focus on other tasks.

ATM Managed Services

Edge One offers an ATM managed services program that helps reduce the tasks that you and your staff have on your plate. With our managed services, we handle everything. From purchasing the equipment, to ensuring it is always up to date and compliant, to analyzing the profitability of the terminal. The only thing you have to worry about is supplying cash and reviewing your easy-to-understand monthly statement.

Ready to Run Your Business More Effectively?

Whatever the situation, the experts at Edge One can help. Contact Us and we will help save you valuable time and money. Give us a call at 800-423-3343(EDGE) and we will put you in touch with a Financial Industry Solution Specialist will help you come up with a tailored solution that fits your needs.