There seems to be no end in sight to the current labor shortages in banks and credit unions. This labor challenge can negatively impact a financial institution's operational performance. The intense competition for workers and high turnover rates suggest hiring new people might not be the only solution to today's workforce challenges. Ultimately, banks and credit unions should find ways to make work easier and require fewer people. That means they should examine existing processes and identify those that are ripe for automation.
A good place to start is cash management.
Automating cash management can help busy branches maintain operational efficiency despite the labor crunch. Cash automation removes the hassle of counting cash. There's no need for dual counting and recounting because the solution quickly and accurately counts and secures cash and helps tellers stay in balance throughout the day. As a result, this solution helps your financial institution adapt to today's ongoing labor shortage, which many believe is part of a larger demographic shift.