Self-Service Check Cashing

Cashing checks in the retail branch is an essential function for all financial institutions. And, due to the explosive growth of the underbanked market it has become a major growth opportunity for many banks and credit unions. However, these seemingly fast transactions will create longer lines and hamper the generation of revenue in the branch by preventing staff from servicing other customers. Many institutions are asking, how do you unlock the under-banked market without creating detrimental side effects in your retail operations?

Banks and credit unions can gain the efficiencies they are seeking with Source Technologies' self-service check cashing solution. Comprised of concourse CheckCashing software and one of a full line of concourse transactional kiosks, the check cashing solution allows staff to focus on value-added activities and improved customer service, without being bogged down with manual check cashing processing. And, it provides customers a fast and easy way to cash their checks, transfer money, or purchase money orders, without waiting in line for a teller.

When used together, concourse CheckCashing and concourse transactional kiosks can be configured as a self-service solution, or can follow the assisted self-service model, which allows customers to manage their own financial transactions, while maintaining the teller as a critical component in the overall transaction.

concourse CheckCashing software is extremely easy to navigate and seamlessly integrates with your check processing system. It also allows full network management, real-time system monitoring, narrowcast digital advertising, and the ability to update software remotely. The concourse transactional kiosk reads and images checks, accepts and dispenses cash, and can output a stored value card.

With these capabilities, Source Technologies' check cashing solution provides many benefits for both financial institutions and customers:

• Improved utilization of both staff and retail space
• Cuts customer wait time and improves customer satisfaction
• Decreases overall operational costs
• Reduces or eliminates balancing errors and expenses
• Works in conjunction with other assisted self-service applications such as concourse Teller and concourse BillPay
• Frees staff to take full advantage of customer contact – to sell, up-sell, build brand awareness, and educate
• Streamlines back-office approvals-fewer human errors and less manual processing
• Multi-lingual capabilities can drive greater sales and loyalty from the growing non-English-speaking segment of U.S. consumers.

With the rapid growth of underbanked customers many banks are faced with the challenges of offering services to this important and potentially very profitable market, while not bogging down their operations and retail staff.

An efficient check cashing solution is now available from Source Technologies. By installing Source Technologies' concourse CheckCashing software and transactional kiosks, financial institutions can capitalize on an entirely new revenue stream, without sacrificing service to customers.

Self-Service Check Cashing: Highlights

• Staff is able to focus on improved customer service and cross-sell and up-sell opportunities.
• Banks can reduce operational costs and uncover an entirely new revenue stream.
• Easy integration with existing back-end check processing systems.