Demand for currency exchange has grown in recent years alongside rising numbers of international travelers. However, lack of progress toward automation in currency exchange and the slow pace of processing transactions manually, have led to crowded currency exchange counters at busy Currency Offices or banks, customers need to spend working time and queue for a long line to exchange currencies.

Business operators of Currency Offices have to hire more employees to increase the capacity, otherwise, customers are going to competitors. Costs to get and keep customers are increasing, profits getting down.

Customers are not happy, business operators are not happy, can we find a good solution to solve this? 

Yes, of course. The solution is to deploy the Self Service Currency Exchange Machine.

Self Service Currency Exchange Machine front end will do:

1. Displays currency exchange rate
2. Identifies the person performing the operation by scanning Passport or ID card to meet the Currency Exchange policy to avoid money laundry,
3. Receives wide list of currencies to exchange
4. Gives money in local currency in banknotes and coins
5. Traces every operation
6. Remotely machine surveillance and diagnostic from BackOffice

The BackOffice will be able to do:

1. User, Role, permission management
2. Resellers management
3. Agents management
4. Cities management
5. Subdivisions management
6. Terminals management
7. Operations status management
8. Customer management
9. Commissions management
10. Loyalty & incentive management
11. Unlimited Multi-language support (Chinese, French, English, Spanish …)
12. Reports extraction and printing to (PDF, Word, and Excel) Unlimited Reports configurations
13. Fingerprint management
14. Fraud management (Max of exchange amount per person, per agent, per day, month, year …)
15. Alarm management (Sends emails if detecting any fraud)
16. Subscription forms management
17. Log management

To invest Self Service Currency Exchange Machine is not a small decision, what are the benefits for both customers and business operators?

Customers get prompt currency exchange service anytime any, no need to spend the working time to queue for currency exchange services anymore. Benefits for business operators are obvious too:

1.Free up employees

Even with the greatest will in the world, answering the same questions hundreds of time a day is an ordinary and repetitive task, albeit an essential one.

Although there may still be some reluctance to use self-service Currency Exchange Machine by some customers, many will take to them and may even prefer to use the machine because of the lack of perceived pressure.

Employees that would ordinarily be answering questions are free to perform other, less mundane, and more fulfilling tasks during their working day. Employees that face fewer mundane and repetitive tasks are more likely to have higher job satisfaction, which means improved morale and reduced staff turnover.

2.Reduce cost

It may be unnecessary to employ a large customer services team, and because the employees will be able to concentrate on tasks, it means that business operators can save money.

A reduction in salaries means a reduction in overall costs, and a self-service currency exchange machine doesn’t need hourly breaks, won’t have to stop for lunch, and work for 24 hours a day if without calling on a union representative, which means that business operators can enjoy greatly reduced costs.

Reducing overheads is an ongoing struggle for a lot of organizations, and it is one of the key factors in ensuring optimal business venture running.

3.Customer Behavior Analysis

Whenever a customer or potential customer uses the Self Service Currency Exchange Machine, it will collect certain pieces of information and data, and machine data collection is accurate and automatic. Such customer behavior analysis is priceless because it can help business operators to maximize revenue, increase average sales, and ensure that they concentrate on the areas of their business that have the highest demand and make the greatest profits.

Companies can pay substantial sums to collect customer behavior data through questionnaires, surveys, and other means. Self-service Currency Exchange Machine can provide similar data without the need to stop and question customers.

Not sure if it is a good choice to deploy Self Service Currency Exchange Machine for your business?

What you need to do is just to contact us and our expertise will help to analyze for you.

Also check if it is permitted by your local government to do currency exchange by self service solution. Many countries don’t allow that.