Many banks and retailers underestimate the time that their staff spend in the back office, counting and sorting coins and banknotes. That’s time that might better be spent on higher-value tasks – engaging face-to-face with customers, for example. As well as being time-consuming, manual cash-handling processes can be pretty inaccurate, not to mention risky if untrustworthy members of staff are involved.
ARCA provides machinery that automates cash handling, speeding up transaction times by counting out money for a customer withdrawal on the bank teller’s behalf, for example, or preparing cash collected by a retailer to make up a bank deposit. The company’s machines are increasingly at the heart of self banking machines in bank lobbies, too, which enable customers to make a cash deposit without the need to stand in line, waiting for a teller position to become free.
Headquartered in Mebane, North Carolina, ARCA has a workforce of around 600 people and annual revenues in the region of $130 million. In 2014, it acquired CTS Group, an Italian provider of cash, check and card automation technologies. Today, around 90 percent of manufacturing takes place in Italy. The remaining 10 percent consists primarily of customization work and takes place in North Carolina.
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