Latest Study Confirms GLORY's Continued Global Leadership in Teller Cash Automation Markets
Glory's continued leadership in the worldwide delivery of Teller Cash Recyclers (TCRs) to financial institutions has been confirmed by the latest report from independent strategic research and consulting firm RBR Data Services, a division of Datos Insights.
Published on 21 December 2023, the Global Branch Transformation 2024 study showed that Glory has a 52.4% percent share of the global market for Teller Cash Recyclers.
Since publication of the last such report by RBR, the retail financial sector has continued to witness significant change worldwide. Despite changing consumer behaviour putting pressure on branch profitability, it is generally recognised that the brick and mortar branches continue to play an important role in overall customer satisfaction and brand awareness.
In providing relevant and effective high-level services, bank branches also retain a key role in developing customer trust. It is in this context that the deployment of TCRs has enabled banks to deliver a complete suite of services in the most cost-effective manner, while making best use of branch staff. Teller cash automation delivers improved accuracy, enhanced security, and greater customer interaction. It is also catalyst for change.
As retail financial markets continue to evolve in response to economic and societal pressures, Paul Race, Vice President, Strategic Marketing, at Glory Global Solutions, stressed "Even in markets under-going branch consolidation programmes, banks continue to prioritise investments in automation that optimise cost and improve the customer experience. The launch of the GLR series, our latest Teller Cash Recyclers in 2023, is a demonstration of our continued investment in supporting the changing needs of our banking customers. With multiple deployment modes ? traditional teller operated, customer facing and self-service ? they are designed to meet the needs of branches today and in the future."
The RBR Data Services report provides further evidence that the branch banking environment is changing. It is anticipated that the number of branches worldwide will decline slowly over the next five years, as will the number of staff employed in branches. Conversely, however, the number of TCRs deployed is expected to increase by CAGR 1.24% to 2028 demonstrating the growing importance of automation solutions to drive branch efficiency.
The report is a regular assessment of current and future deployment levels of Teller Automation Units and Assisted Service devices in 20 countries worldwide. It is based on in-depth interviews with financial institutions and vendors.
Glory works with major financial institutions around the world and has TCR solutions deployed in each of the 20 countries covered in the RBR Data Services report. The analysis concludes that Glory continues to be the number one supplier of TCRs in the Americas, Asia Pacific and EMEA markets.
About GLORY Ltd.
As a global leader in cash technology solutions, we provide the financial, retail, QSR, 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 10,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY Ltd. is built on a rich customer-focused, technology-driven heritage spanning almost a hundred years.
For further information please visit www.glory-global.com or follow us on Twitter: http://twitter.com/glory_global.
About RBR Data Services
RBR Data Services provides clients with independent and reliable data and insights through published research, consulting and bespoke data services. Our global research covers the cards and payments, retail technology and banking automation sectors and is used by the leading market participants, analysts and regulators as the authoritative source of industry and competitor benchmark data. For any questions about this release, please contact [email protected].
About Datos Insights
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world's assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world's most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils.
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