Teller Payments

High-performance monetary processing and fraud detection to maximize savings and efficiency.

Teller Payments

Improve Teller Efficiency and Reduce Fraud Loss

From Top 10 to Regional, financial institutions share the same primary challenges regarding their teller solutions. Learn how to stop worrying about your teller challenges and start building on your strategic opportunities.

Improve Workflow and Efficiency

Teller Payments Fraud provides end-to-end processing for retail and commercial transactions. Image capture and workflow enable tellers to capture 100% of transactions at the teller line. Tellers can perfect 95-98% of transactions presented in the branch. The electronic journal provides a detailed audit trail that tracks the chain of custody of a physical item. Institutions reduce adjustment rates by 89-90% and decrease write-offs by up to 85%. Automated workflow allows communication between the front and back office.

Teller Front & Back Office

Automate Deposit and Payment Requests

Teller Payments Fraud guides tellers through deposit and payment requests. Logical steps help them process multiple, complex transactions, including imaging.

  • Deposit—Process checking, certificates of deposit, individual retirement accounts, and savings deposits for retail and commercial customers.
  • Withdrawal/Cash Check—Perform multiple withdrawals or check cashing for on-us and transit items in one transaction.
  • Payment—Process payments, including loans, utilities, and miscellaneous transactions.
  • Purchase—Process requests for money orders, cashier’s checks, traveler’s cheques, gift cheques, and gift cards.
  • Transfer—Transfer amounts from one checking or savings account to another.
  • Cash Advance—Process cash advances from credit cards.
  • General Ledger—Perform general ledger credit and debit transactions or general ledger to general ledger transactions.

  • Holds—Reduce Regulation CC hold violations by providing options for hold periods and hold reasons that comply with the regulation.
  • Stop Payments—Provide tellers with an immediate response to customer stop payment requests, decreasing delays in placing stop payments.
  • Currency Transaction Reports/Monetary Instrument Log—Meet compliance requirements with embedded cash aggregation and data collection prompting. Pre-fill transaction and account information to reduce the time and effort tellers need to complete the required data.
  • Suspicious Activity Reports—Track unusual, irregular, or suspicious monetary transactions.

Improve Efficiency with Virtual Tickets

Virtual tickets eliminate handwritten documents, such as cash-ins, cash-outs, and general ledger tickets. Virtual tickets help FIs reduce network usage and paper inventory by up to 40% and lower archival costs by 10%.

Virtual Ticket - Cash-In
Virtual Ticket - Deposit

Special Handling

Tellers and back-office operators have an automated approach to exception handling for certain items. The teller scans items and sends the physical paper to the back office. In the back office, staff rescans and reconciles items with the teller’s original scan.

  • Savings Bond Redemption—Provides redemption values, redeems U.S. Savings Bonds, and collects 1099 interest reporting data.
  • Foreign Currency Exchange—Handles requests for an exchange of foreign currency or traveler’s cheques for U.S. dollars or U.S. dollars for foreign currency.
  • Automated Reconcilement—When the back office receives paper items, they are scanned and automatically reconciled with the images captured at the teller line to ensure all items are received and available for processing.

Meet Business Customer Needs

Tellers can add and maintain customers’ currency and coin orders, night deposits, and ATM envelopes. Using the daily log, tellers process orders to the accounts and release orders to authorized individuals. Night deposits and envelopes become part of the permanent log.

  • Automatic Dual Control: Requires a second teller to enter an ID and password to authorize an action.
  • ATM Processing: Processes the ATM envelopes by scanning them or manually entering the information.
  • Night Deposit Processing: Processes the contents dropped the previous evening as deposits, transfers, payments, general ledger entries, and change orders.

Cash Balancing

The cash balancing compares the cash in the drawer to system totals. Tellers enter the amounts of coins, currency, mutilated items, bait, and cash in the cashbox. The solution uses this data to balance to system totals. In addition, the system enforces recycler, vault, ATM, and branch-level balancing.

  • Limit Controls: Sets monetary transaction limits for posting cashbox outage discrepancies.
  • Audit: Compiles an audit trail for investigating teller out-of-balance. Managers can conduct surprise audits when improper activities are found.
  • Surprise Cash Audit Workflow: Provides random cash count alerts, SLA tracking, and tiered escalations to help ensure secure and accurate cashbox auditing.
  • Bait Log: Provides an electronic log for each teller’s cashbox bait denominations and serial numbers.
Circle Icons x ARGO Teller Payments Fraud Spot Illustration

Detect Over-the-Counter Fraud

Evaluate teller transactions at the point of presentment with transaction, image, and BSA/AML analysis. Online, real-time processing provides messages to alert the teller of suspicious activity. Automatic holds, warning messages, overrides, and denials protect the bank’s funds. The teller does not need to be a trained fraud analyst since automation interprets the results and returns decisions.

Meet BSA/AML Compliance Requirements

The solution identifies potential money laundering and enforces due diligence. BSA and AML features help meet regulatory needs such as Know Your Customer (KYC), sanction screening and risk assessment, and regulatory reporting. Cash aggregation identifies reportable transactions. It triggers the reports, populates the data, and prompts the teller to gather the required information.

Cash Aggregation

Serve Your Customers from a Single Application

The Universal Desktop provides seamless access to monetary transactions, services, sales, fulfillment, and advisory support from a single touchpoint. No more need to switch software platforms or move to a different station. The banker can focus on the customer to meet needs and reduce friction caused by long wait times.

Teller Serving Customer

Teller Payments Fraud

  • 100% item capture at the front counter
  • 98% of transactions and items perfected
  • Online, real-time fraud detection and prevention
  • Enterprise-wide electronic journal

 

Learn more: Fraud & AML

  • Embedded currency transaction reporting
  • Enforced authentication, limits, and supervisor controls
  • Front-office to back-office collaboration

  • Seamless access to services and fulfillment

Teller Payments Solution Overview