Branch operations front counter teller capture will help you automate

As we’ve stated before, front counter teller capture continues its surge in popularity among banks and financial institutions. Although requiring a greater up-front investment than traditional branch capture, financial institutions quickly recuperate those costs and experience long-term sustainable efficiencies and cost savings by implementing teller capture.

This article is going to focus on the specific opportunities for automation, which drive the majority of branch image capture to the retail side of the financial institution.

MICR Code Line Entry Conversion

Branch front counter can automatically read, validate and populate MICR code line data, including account types, as well as handwritten account numbers on counter credits in the teller system. In addition, conversions of account information in the code line can be handled automatically as required for bank acquisitions and accounts that are not “repapered.”

Amount Recognition and Entry

Branch front counter can read and populate amounts in the teller system. This includes check amounts as well as deposit tickets and payment coupons.

Transaction Balancing

Branch front counter can automatically balance most transactions and bring any out-of-balance conditions to the attention of the teller who can resolve them while the customer is still present, ensuring the integrity and accuracy of the transaction and eliminating the requirement for downstream adjustments.

Item Validation

Branch front counter can use the code line and other item data for automated, real-time validation of items during transaction processing. This can include verifying the presence of signatures and endorsements as well as simple and complex business rules for processing a variety of items including credits, debits, GL transactions and loans. This can include host system callouts for account statuses, account information, stop payment suspects and so forth. Branch front counter can also detect high-value items, ineligible items and non-conforming images and bring them to the attention of the teller noting required actions.

Cash In and Cash Out Handling

In addition to reading item total amounts, branch front counter can read and populate cash in and cash out line item amounts in the teller system and automatically insert virtual cash tickets in the transaction, eliminating the need for the completion of physical cash tickets.

Cash Counter Integration

Branch front counter can be fully integrated with the teller system cash counter, invoking the cash counter automatically when cash amounts are detected. Cash counter amounts are reconciled in real time during transaction processing, resulting in fewer errors and out-of balance conditions and simplifying the end-of-day cash balancing process.

Application of Funds Availability Rules

Branch front counter can be used to automatically recognize on-us vs. transit items and consistently apply business rules for float management / availability of funds ensuring proper posting and application of holds.

Splits and Multiple Transactions

Branch front counter can be integrated with the teller system in a way that simplifies the processing of split and other complicated deposits through business rules.

Counter Tickets

In addition to eliminating the need for physical cash tickets, branch front counter can reduce or eliminate the need for other counter tickets and internal paper documents such as counter deposit tickets, counter payment coupons and GL tickets through the use of substitute images or virtual documents. This saves the teller from having to complete these tickets manually and provides significant cost savings in paper.

Foreign Items

Branch front counter can automatically detect foreign items presented in deposits and canbe integrated with the teller system so that foreign currency transactions can be conducted in their native currency. Substitute images or virtual documents can be inserted in the transaction to represent some or all of the transaction components. In addition, branch front counter can capture the images of the foreign items for research and reconciliation purposes.

Bonds

Branch front counter can automatically detect and calculate the face value of bonds presented in deposits and other transactions. In addition, through integration with the teller system, the redemption value of the bonds can be used to replace the face value of the bond.

Payments

Branch front counter can be used to process payments at the teller line as well and can read and populate payment coupon data in the teller system. Address change requests noted on payment coupons can also be automatically detected and flagged in the payment stream.