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How New Cash Handling Systems Help Canadian Financial Institutions

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How New Cash Handling Systems Help Canadian Financial Institutions
Canadian financial institutions are pillars in our society, and our stable banking system is one of the reasons Canada wasn’t hit as hard by the 2008 recession.

However, there is always room for improvement. New cash handling systems can help Canadian financial institutions run more smoothly and ensure that money is better protected.
The Importance of Cash Handling Systems
Automatic cash handling systems cut down on human error and cash handling mistakes, as well as employee theft. It also saves time. Time is one of the most precious resources financial institutions have. After all, you pay employees for their time. It should be money that’s well spent. When there are automated …show more content…

It can also reduce human error and risks, enabling you to help your clients improve their bottom lines.
More retailers will be seeking out smart safes in the future. It’s a great idea to offer them.
Currency Counters
More and more financial institutions are investing in currency recyclers. For financial institutions, which deal with a heavy load of cash, this is an ideal machine to have. It counts, sorts, stores, and dispenses cash in seconds, enabling your bank tellers to spend more time interacting with customers and less time handling cash. It also helps you reduce human error and employee theft.
Counterfeit Detection
Counterfeit currency is always a problem that financial institutions have to be on the lookout for. Currency counters and recyclers have counterfeit detection measures built in. This will alert you to any counterfeit currency you might have in your possession so you can alert the proper authorities.
Financial institutions can also invest in counterfeit detection machines where employees can scan cash they receive and immediately know if it’s counterfeit, so they can alert the customer and get more information about where they received

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