Digital banking and payment has become one of the most common things to be used in this digital era, due to the convenience it provides. People nowadays rely on their mobile devices, while the apps are typically available for free and can be downloaded easily from the app store. Not to mention, compared to conventional banking practices like visiting a branch or using an ATM, this technology is considered more convenient and faster.
Despite the conveniences, digital transactions have been known for creating a serious concern for its risk of cybercrime like identity theft. In fact, it has sky-rocketed in the past few years, affecting both the institutions and customers.
In order to prevent the crime from happening, banking and financial institutions decided to implement the Electronic Know Your Client (eKYC) procedure that involves biometric authentication at the onboarding stage.
While digital transactions offer great convenience, they are also vulnerable to cybercrime. Because of this, eKYC has become a popular choice to enhance security and optimize efficiency. Image Source: Freepik
What is eKYC?
Know Your Client (KYC) are standards used in the banking and financial services industry to verify customers and know their risk and financial profiles. Three components of KYC include the customer identification program (CIP), customer due diligence (CDD), and enhanced due diligence (EDD).
Conventionally, the procedures used to be done manually where the customer had to visit any branch to fill KYC form. Then, as the technology evolves, this process comes in an electronic method known as eKYC.
With eKYC, customers won’t need to be physically shown up by the branch to do a face-to-face interaction with the bank. Now, the identification process can be done easily by filling the eForm, uploading the documents required, and getting verified through video call. It takes only 3-5 minutes to be done and is considered to be more convenient as it can be done anywhere.
Our SVS solution offers a comprehensive digital KYC solution for a seamless customer onboarding experience improvement, digital onboarding, electronic signature capturing and document storing.
Coming up with three modules: Mobile onboarding solution, eKYC, and SDS; that can be deployed separately based on your business needs as each works differently. From customer mobile identification, onboarding process, to master center repository that stores account, signature, and customer information — we got you!
The same platform can be extended to add-ons with new digital onboarding products and services.
Cost-Savings Solution
With the ability to leverage on a single infrastructure investment, our SVS solution allows better cost savings on software licensing.
Secure
Every customer’s data will be stored safely in the master center repository and will be deemed to ensure its accuracy and security.
Are you interested in learning how beneficial our SVS solution is for your business? Contact us by phone at +62-21 5841060 or by email at info@murnibintang.com. You can also visit this page for complete information about this product.
Medical service illustration. Image Source: Freepik
Every day, there will always be people in need of healthcare services, especially in hospitals. Based on this fact, it becomes a collective need for all of us to enhance the effectiveness of healthcare services.
To illustrate, the of healthcare services can be observed from the setting where healthcare professionals carry out their practices. This is further supported by the historical fact that technological innovations have driven significant advancements in the healthcare service industry.
One of the recent breakthroughs that have shaken the healthcare service industry is the ergonomic medical cart.
Ergonomic cart designed for the fast-paced healthcare environment. Image Source: Ergotron
Ergonomic Technology as the ‘Key’ to Effectiveness
Ergonomic technology means bridging human needs with its relationship to the surrounding environment suitably and optimally, including within the healthcare context.
The design of technology for healthcare services should at least consider the following aspects:
Safety
Usability, ease of use
Interoperability or integration
Scalability, adjustable to needs
Responsiveness and reliability
Sustainability
Unfortunately, many healthcare practices take place without technology designs that fulfil these elements. Some lack or do not have the necessary technology to support healthcare services effectively.
However, healthcare practices must adopt ergonomic technology. This ensures that the required elements of technology design are met, enabling the process and workflow of healthcare services to be more effective.
In the long run, ergonomic technology leads to more effective healthcare services and maximises life expectancy.
In this digital era, technology such as laptops, tablets, and notebooks to support work needs is commonly found. But can this technology be used in a mobile and optimal way to meet healthcare service requirements?
Medical carts optimize clinical workflows by streamlining the transport of documentation, technology, and essential equipment directly to the point of care. Image Source: Ergotron
The answer to that is yes, using an Ergonomic Medical Cart. Healthcare professionals no longer need to hassle with stacks of documents and medical equipment; they simply utilise the ergonomic medical cart, designed to accommodate the needs and comfort of healthcare providers in delivering optimal healthcare services.
Using an Ergonomic Medical Cart can also be a good business move, creating a positive perception. It’s a small step that significantly impacts the healthcare service industry.
Ergonomic technological innovations bring a fresh and revitalising solution in the ever-evolving healthcare service industry. The Ergonomic Medical Cart has helped reduce the risk of injuries, improve effectiveness, and provide a better working experience for healthcare professionals.
With various types of banknote counting machines available in the market, your business certainly needs the right machine to accommodate everyday business operations. After reviewing various brands and types of banknote counting machines, here are our recommendations—so, let’s take a look!
To retail companies, desktop banknote counting machines with small friction technology can be applied at the front-office (cashier) as well as the back-office. The banknote counting machines we recommend are:
Glory GFB-800, a high-durability banknote counting machine which has proven to be reliable in various industries. This cash counting machine is suitable for heavy-duty use.
CashQuip BM-300 (top loading*), a banknote counting machine with UV and MG security feature detection—another suitable choice for application at the cashier.counter.
*Back loading refers to the method of stacking the banknote horizontally, while top loading has a system of stacking the banknote vertically.
Banknote coynting machines enable excellent service by minimizing wait times and seamless cash handling even during peak retail hours. Image Source: Freepik
Banking and financial businesses are closely associated withfrom large volumes of cash transactions on a daily basis. Therefore, specific banknote counting machines are needed in order to support work efficiency and provide excellent service to customers.
With large volumes, high-standard banknote counting machines have become a primary requirement. Based on the needs, we suggest the following vacuum technology-based standing banknote counting machines for banking and financial businesses:
Glory GNH 710, a reliable and highly durable cash counting machine, making it a popular choice which has been widely implemented in the banking industry.
CCE M-2000, an affordable, high-accuracy choice of banknote counting machine.
CashQuip BC-100, a standing cash counting machine equipped with a banknote stacker area and is offered at an affordable price.
Banknote counters help staff process large cash volumes swiftly and without error, ensuring excellent customer service. Image Source: SuaraTani.com
3. Money Changer
As a company engaged in currency exchange, money changers need small-sized desktop banknote counting machines that can be placed at the front office and can detect different currencies. Therefore, we offer the following machines:
CashQuip BV-400, a multi-currency banknote counting machine with sorting functions based on currency, denomination, and orientation.
High-performance banknote counters ensure absolute accuracy and counterfeit detection for a secure customer experience. Image Source: Freepik
If you have specific questions regarding the types of cash counting machines suitable for your business scope, please contact our sales team at sales.office@murni.co.id.
That’s the information and tips from us. Stay tuned to our blog for interesting updates on business, banking, digital transformation, and much more.
Based on that statement, what are the most suitable steps to detect counterfeit money and minimize losses for companies? Here are some tips from us:
1. Build Employee Awareness
Raising awareness about the dangers and characteristics of counterfeit money is crucial for front-office employees, who serve as the primary point of contact for customer cash. Provide them with proper training to identify the signs of fake notes, ensuring they remain vigilant against potential counterfeit payments.
2. Provide Counterfeit Money Detection Machines
In line with the evolving technology used in counterfeit currency, manual verification techniques remain limited to detecting surface images and watermarks.
But what about other security features? Many retail businesses have now begun implementing UV counterfeit detectors at their front-office registers. Thanks to their compact design, these UV devices can be placed right next to the cash register to help employees verify the UV security features on banknotes.
For businesses that handle a large amount of paper money on a daily basis, we recommend using cash counting machines. But, why recommend cash counting machines, instead of standalone counterfeit detector? Because these machines provide great business benefits— by maximizing operational efficiency, cash counting machines can detect counterfeit bills while simultaneously counting them. This not only enhances transaction security but also significantly speeds up the payment process.
Cash counting machines come with a wide range of features and functions, so it is important to choose the one that best fits your business needs. Learn more about how to choose the ideal money counter for your business.
Before making a purchase, make a proper plan for Digital Signage implementation— not only as a communication platform, but as a branding tool for your company. Implementing signage will provide a new customer experience and can be used to leave an impression on customers to recognize the values and unique characteristics of your business branding.
Everyone knows that signage is used as an information sharing platform. As customers nowadays are more familiar with technology, where they can access limitless information, consider providing the same service through your screens. For example, you can use interactive signage so that customers can quickly search for the information they need.
Social media is proven to hold a powerful role in marketing strategies. It is now considered more capable of building customer trust compared to conventional marketing channels. To make advantage of both, you can integrate advertisements on your screen to your company’s social media account. How? By simply using digital signage as a way to attract your customer’s attention, which then allows them to access more detailed information on your social media platforms, for example, through QR code scanning, etc.
The latest trend shows the use of digital signage as a part of self-service kiosks for customers to obtain a queueing ticket, make an order at a restaurant, view the facility map, etc. Combining advertising and services on a single screen will result in both enhanced promotional effectiveness and improved customer service.
The last and most important part of your planning is to put yourself in the customers’ shoes when looking at your screen! Analyze their needs even before they ask you for anything.
Implementing digital signage has become very popular these days. However, effective implementation depends not only on visually appealing digital signage but also on an effective and accurate business plan.
With the aim of improving customer experience, banks are also adapting to the changing culture of their customers, who are becoming more familiar with technological advancements.
According to data from Statista, although the penetration of smartphone usage in Indonesia is still at 27%, it is expected to steadily rise with broader internet access.
Furthermore, in this year of 2020, the world is facing the challenge of the COVID-19 pandemic, leading to reduced physical activities and an increased need for alternative technology-based communication.
The evolving behaviors and lifestyles of people have driven various businesses, including the banking industry, to undergo transformation, particularly through digital branch transformation.
Digital branch transformation has been one of the most discussed topics in recent years.
The rapid advancement of technology has opened up new possibilities for banking services, such as the transfer of various services to self-service areas and the automation of services through sophisticated machines.
However, the banks still face a unique challenge.
On one hand, millennials and Generation Z customers are increasingly accustomed to and dependent on technology. On the other hand, banks still serve senior customers who, even though they use smartphones, may prefer face-to-face interactions and assistance.
Aside from customers’ preference issue, some services also require staff verification, making them unsuitable for full digital processing, such as large cash deposits.
“But aren’t there cash deposit ATMs available now?”
Source: www.mediakonsumen.com
You might ask this question, and indeed, cash deposit ATMs have been present in various ATM outlets for some time.
However, what you might not realize is that the cash deposit ATMs you see or use have limitations, such as deposit amount limits, accepted banknote denominations, and the fitness level of banknote that can be deposited.
So, can cash deposit ATMs replace the role of tellers in cash deposit services?
The answer is a definite no.
Cash deposit ATMs can handle small deposits with a good banknote fitness level, like when your child wants to deposit money received during festivals or occasions using fresh, new, and crisp notes.
However, what if you are a business owner with a building supplies store, who receives cash payments in various denominations and conditions every day? Some notes are new, while others are old, torn, dirty, or even washed; some might be in denominations of Rp 100,000 mixed with Rp 5,000 and Rp 2,000 notes.
In such cases, these business owners usually deposit their sales proceeds through tellers rather than cash deposit ATMs. That’s why the role of tellers remains crucial, even as the banks shift to digital technology utilization.
Source: www.semarang.bisnis.com
Technology cannot completely replace human roles, especially in terms of verification and flexibility.
However, the role and performance of tellers can be improved to create a better customer experience.
To address these challenges, cash processing technology experts developed cash recycling technology integrated into a teller cash recycler machine.
What is a teller cash recycler?
A teller cash recycler is a deposit and withdrawal machine specifically designed to assist tellers.
Although it has a similar function as cash deposit ATMs, a teller cash recycler has different objectives and capabilities.
The teller cash recycler is designed to be placed at teller counters (not in self-service areas) to help automate deposit and withdrawal transactions for customers.
In short, the teller cash recycler automates the counting, authentication, sorting, storage, and digital balancing processes, eliminating the need for tellers to handle money manually.
How is Teller Cash Recycler Different from Cash Deposit ATMs
To understand why teller cash recyclers were developed despite the presence of cash deposit ATMs, let’s discuss the advantages of teller cash recyclers:
1. Accepts All Types of Banknotes
As mentioned earlier, cash deposits are not limited to new and large denomination notes; they can also consist of worn-out and small denomination notes.
Regardless of the denomination and condition of the banknotes, teller cash recyclers can accept and process them accurately and without any issue.
Source: www.carapandang.com
2. Faster Transaction Processing
Have you ever used a cash deposit ATM? Cash deposit ATMs have enclosed hoppers (where money is placed) since these machines are meant for self-service use.
When depositing a large amount of money, cash deposit ATMs process the money in multiple steps.
In contrast, teller cash recyclers come with open hoppers, allowing you to place all your money on top of the hopper, and the machine will continuously process the money, significantly reducing processing time.
Source: Glory Case Study, Isbank.
3. Secure Verification
Some transactions still require verification, such as large amounts of withdrawals.
ATMs typically have withdrawal limits; for example, basic cards may only withdraw a maximum of Rp 10,000,000, while premium cards may withdraw up to Rp 25,000,000, and so on.
Although the specific limits may vary depending on policies, banks impose these restrictions for security purposes to minimize potential losses in case of criminal activities (fraud).
But what if you need to withdraw more than the card’s limit?
This is where tellers and their services take part.
Assisted by teller cash recyclers, tellers can process large amounts of withdrawals (and deposits) in various denominations quickly and efficiently, ensuring a smooth and secure transaction.
Furthermore, teller cash recyclers are equipped with authentication sensors to detect counterfeit money, ensuring transaction accuracy and safety.
4. Convenient Transactions
During the COVID-19 pandemic, services must continue to run optimally despite the risk of transmission being present everywhere.
Tellers, as front-line service providers, interact with many customers daily, exposing themselves to a high risk of contracting COVID-19 from customers and the used money.
Teller cash recyclers can be implemented in self-service mode (while still located at teller counters) to enable customers to perform transactions independently. As a result, tellers only need to monitor or verify transactions.
This way, tellers no longer need to handle money directly, promoting physical distancing between tellers and customers during transactions.
In Conclusion…
The broad advantages and benefits of teller cash recyclers have made them a critical element in the transformation of digital bank branches.
We understand that tellers are still necessary, at least until technology provides more advanced verification systems or more flexible deposit and withdrawal solutions.
Therefore, the ideal digital branch today does not eliminate conventional services but updates them through integration with technology.
This aims to enhance operational efficiency in branches while creating a better customer experience.
And teller cash recyclers can help you achieve just that!
