Glory Global Solutions, a provider of secure cash management products, has been commissioned by Deutsche Postbank AG to equip approximately 1,000 of its financial centers across Germany with closed-loop cash management solutions by 2017.

According to a press release, the companies have developed “a unique combination” of devices to meet specific Postbank requirements concerning efficiency, security and customer experience within the branch.

The Glory solution has been implemented at 190 Postbank branches to date. Additional financial centers across Germany will be similarly equipped over the next two years.

The automation of cash transactions at Postbank financial centers will reduce the burden of low-value tasks such as manual cash counting and time-consuming CIT transfer processes. As a result, branch staff are better able to focus more on customer interactions, the release said.

“Modern cash handling technologies have become an essential investment for financial institutions looking to deliver exceptional customer experiences by releasing staff resources to offer higher-value consulting services,” said Oliver Kapahnke, Glory Global managing director for Germany. “The flexible design of the Glory recycling solution means it can be operated by a bank employee as a cash desk but can also be used by the bank’s customers as a self-service solution.”

In addition to improving personal banking transactions, the companies also expect that the Glory solution will optimise transactions for the FI’s business and postal service customers.

Based on Glory’s proven RBG-200 technology, the Postbank solution comprises a state-of-the-art coin and banknote recycler combined with a cash register system — including a full cash desk — in one integrated unit.

Whether a customer is withdrawing or depositing cash, or paying for services in cash, the Glory recycling solution speeds up the transaction, reducing queues. Cash reserves are monitored by Glory software, which automatically creates orders for cash-in-transit companies to replenish cash stocks and reduces the time needed for start- and end-of-day balancing.

The closed-loop solution removes physical points of interaction with cash by staff and provides secure storage at the point of presentment.

Deutsche Postbank is one of Germany’s largest financial services providers with 14 million customers, 15,000 employees and 152 billion euros ($175 billion) in assets.

Glory, Deutsche Postbank implement closed-loop cash-handling system