In my years working alongside financial institutions, I’ve seen firsthand how the role of cash continues to evolve. Despite the surge in digital payments, cash remains a cornerstone of financial inclusion, resilience, and customer satisfaction.
The message came through clearly at Intersect, Diebold Nixdorf’s signature customer event, where two powerful panels—“Unlocking the Secrets to a Successful Cash Automation Strategy” and “The Case for Cash”—explored how the future of cash isn’t about resisting innovation, but embracing responsible modernization.
Cash Is Still King—And It’s Critical
Cash in circulation continues to remain high, and consumers like having a choice about how they pay. As Joe Myers, EVP of Global Banking at Diebold Nixdorf, put it during “The Case for Cash” panel discussion, “As consumers, we expect to be able to complete transactions how and when we want. It’s disappointing when that lack of choice isn’t available.”
During natural disasters, cyberattacks, or grid failures, digital systems falter. Cash doesn’t. That’s why governments around the world—from Sweden to Spain—are rethinking all-digital strategies. For the millions of unbanked or underbanked households in the U.S., cash isn’t a preference—it’s a lifeline. A recent YouGov survey found that, according to 90% of the consumers surveyed, access to cash is influential to their bank choice.
Automation: The Engine of Efficiency and Experience
Cash automation isn’t just about cost savings—it’s about empowering staff, enhancing customer experience, and future-proofing operations.
Panelists from PNC, U.S. Bank, and Zions Bank shared how
Teller Cash Recyclers (TCRs) and ATM recyclers are transforming their branches:
- Faster merchant deposits with less teller stress.
- Improved accuracy and counterfeit detection.
- Reduced machine jams and downtime.
- Data-driven decisions on denomination strategy and forecasting.
Ken Justice, EVP, Head of ATM Banking at PNC, reminded us that automation started with a focus on customer experience, not cost, but the ROI followed. Gregg Smith, Senior Vice President, ATM Banking at U.S. Bank, shared that their first-year savings from recycling doubled projections.
Data Is the Differentiator
Zions Bank’s approach to connected devices and data intelligence is a model for others. By integrating with platforms like
DN’s AllConnectTM Data Engine, they’re able to:
- Monitor performance and availability.
- Tailor configurations for local customer needs.
- Detect anomalies before they become service issues.
As Sarah Petersen of Zions Bank shared during the panel, “We put in a very concentrated effort to make sure that all the machines could get connected so that we could collect that data for a while in order to have that data be right—and the best it could be.” This data-driven approach helps Zions prepare for future cash recycling initiatives with greater precision and confidence.
Norbert Thiel, CEO and Co-Owner at NG Branch Technology, emphasized that trace data isn’t just for troubleshooting—it’s for strategic optimization. “You can identify outliers and underperforming machines before your staff notices,” he said.
Choice Is a Right, Not a Perk
The
Payment Choice Coalition, led by Jeff Thinnes, CEO at JTI, is advocating for the
Payment Choice Act, which would require retailers to accept cash for transactions under $500. This bipartisan effort reflects a growing awareness that digital-only models exclude millions and pose risks during infrastructure failures.
As a financial industry, we should champion this movement—not just through compliance, but through education, advocacy, and infrastructure investment. Community banks and credit unions, with their deep local ties, are uniquely positioned to lead.
What Financial Institutions Can Do Today
- Start now: Don’t wait for perfection. Begin your automation journey and refine as you go.
- Upgrade strategically: Replace outdated hardware and prioritize devices capable of recycling and intelligent monitoring.
- Empower your staff: Involve tellers in solution design. They’ll become your strongest advocates.
- Leverage your data: Use transaction and performance data to optimize cash loads and reduce service frequency.
- Champion payment choice: Engage with policymakers and coalitions to ensure cash remains a viable option for all.
Progress Over Perfection
Cash automation is a journey—not a one-and-done project. The financial institutions seeing the greatest returns are those embracing a deploy-monitor-refine cycle. As I stated at Intersect: Don’t let perfection hinder progress.
Lead with innovation, but do not forget our responsibility to inclusion, resilience, and customer trust.
Want to learn more?
Contact us today to learn more about how Diebold Nixdorf can help with your cash automation journey.
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