Having an effective cash-in-transit (CIT) partner is a must for both financial institutions (FIs) and retailers. With the right partner, FIs and businesses can redirect employees to focus on customers and growing the business.
So how do you know you have the right partner? Look for the three S’s of an effective CIT partner: Service, Solutions, and Savvy
Perhaps more than ever, FIs and retailers need to know they will be able to effectively serve their customers. This means they need a CIT partner diligently working behind the scenes to ensure that properly prepared currency and coin is being securely delivered to the appropriate branch, ATM, or store.
An effective CIT partner is accessible, agile, and able to deliver. Rochester is committed to providing professional and extraordinary service to its partners. Over the years, Rochester has led the way in the implementation of best practices by the Federal Reserve and special compliance requests by the banking industry.
An effective CIT partner is able to provide solutions needed that eliminate the headaches of cash management and increase efficiency. These solutions should help reduce risk, minimize loss, and lower labor costs that are associated with cash management tasks.
That’s just the start. With an effective CIT partner, FIs and retailers can share plans for growth and discover that the CIT partner has solutions that not only help simplify day-to-day operations now, but also solutions that can streamline services and help achieve that next level.
In Rochester’s experience, it’s critical that a bank not only has the right plan and technology, but the right partner to support those plans and technology. As a bank alters and adds services, it’s crucial that its CIT partner be part of that conversation. In many cases, the CIT partner can offer ideas and solutions that increase efficiencies and reduce risk.
For this reason, Rochester works closely with its partners to develop customized solutions that help achieve their business goals and make cash management easy and efficient.
Experience is absolutely essential in an effective CIT partner. Experience is invaluable and even more invaluable is the knowledge that comes from that experience. An effective CIT partner can offer expertise, guidance, and insight during the best and worst of times.
With nearly 60 years of experience, Rochester has one of the most experienced management teams in the industry. Rochester offers its partner a savvy that can help them navigate any economic climate.