As the bank branch becomes a primary delivery channel for financial institutions, there is a constant need to improve operational efficiency and provide users with an improved quality of service. Most financial institutions have in the past had a defined system in place determining how currency notes were physically handled in a branch. Typically, there has been a secure vault where bulk currency notes are stored and these are distributed after multiple counts to tellers who can then perform necessary cash transactions with customers. Likewise, when cash has been received from customers, this has been counted many times and eventually returned as incoming cash to a vault. It has thus not been uncommon for currency notes to be counted by hand many times on a journey through a branch. Such cash handling procedures have decreased employee efficiencies and increased customer wait times. There has thus been a need to reduce exposed currency notes in a branch.
As technology has improved, attempts have been made to automate certain aspects of the currency note handling process. Such technology allows for remote note imaging or check imaging, signature capture and other such verification steps. The development of such technology has led to the introduction of media depositories used in automated teller machines (ATMs) and other such self-service terminals. Media depositories are used to receive media items from a customer. One common type of media depository is a sheet media depository for receiving items of media in sheet form. For example, such items of media can be currency notes, checks, tickets, gyros or the like. Some sheet depositories are capable of receiving a bunch of sheet items of media in a loading area and then picking individual sheets from a bunch so that each sheet can then be identified and validated individually prior to storage of a validated sheet within a depository or returned to a customer.
Another type of automated unit is the currency recycler. In such devices, customers may deposit items of media such as currency notes, checks, vouchers or the like, and these are processed separately one-by-one and stored in various storage modules within a terminal. For example, a storage unit can be an escrow storage unit in which, instead of being deposited directly into a storage module, once counted and verified, currency notes or checks input by a user are held temporarily until a teller negotiating with a user completes a transaction. If a customer decides to cancel a transaction or asks for the items to be recounted, the original deposited bank currency notes can be returned. This function allows any disputes to be resolved promptly. The temporarily stored items are held in a roll storage module (RSM) in the escrow module.
Cash recyclers and other such units also include one or more roll storage modules (RSMs). Such RSMs are provided for each of the possible currency notes or checks or other such vouchers which may be presented at a recycler unit. For example, an RSM dedicated to a £10 note will be provided as well as an RSM dedicated to a £20 note as well as an RSM dedicated to a £50 note or the like.
When a customer presents a bunch of items, these do not need to be manually counted by a teller, but are instead fed into an input slot on the recycler unit. Each presented item is counted and verified within a recycler and once it has been decided to make a permanent deposit of the presented items, the items are separated and stored in a respective RSM. For example, all £20 notes presented in a bunch are stored in the £20 RSM etc.
A cash recycler thus helps automate acceptance, authentication and validation of currency notes. Another advantage of such units is that the deposited items which are stored in respective RSMs can subsequently be dispensed when another user attends at a teller and requests currency notes. A cash recycler thus enables previously deposited currency notes to be instantly available for dispensing to customers.
Cash recyclers also help reduce transaction times and time taken for start and end-of-day cash balancing. Average wait times for customers can thus be reduced and overall branch security is improved.
It is understood that there are other self-service terminals and other item storage devices where sheet items of media are stored on a semi-permanent basis for subsequent dispensation of the stored items to a user requesting them. On many occasions the rolled storage units utilized can store items for many hundreds, if not thousands, of hours in a curved state. This is because such storage units typically utilize a storage drum having a substantially cylindrical cross-section. Currency notes or checks or the like are stored by being wrapped around the drum and kept in place and duly located by one or more tape windings which are wound around the drum. A problem with such storage mechanisms is that when the items are dispensed, because they may have been stored for some time, they may retain part of the curved shape generated by being wrapped on a cylindrical drum. This effect can be worsened if the stored item was already badly curved prior to being stored. Such curled items of media have a tendency to increase a risk of jams occurring within a storage unit. Also, within the transport system utilized to move items of media around in a self-service terminal or the like, the risk of such jams is increased with curled or curved items.
USPTO Backgrounds
USPTO Backgrounds