Improving Speed and Efficiency of Commercial Deposit Processing, Home State Bank Reaps Benefits of Cummins Allison Currency and Self-Service Coin Solutions

MT. PROSPECT, Ill.--(BUSINESS WIRE)--Cummins Allison, the leading innovator and provider of coin, currency and check handling solutions, today announced Home State Bank has significantly increased its ability to efficiently process high-volume commercial transactions as a result of deploying the JetScan iFX^® i200 two-pocket currency scanner. In addition, as a result of installing Cummins Allison’s Money Machine, a self-service coin counter, Home State Bank has saved hours in the daily processing of coin deposits while also simplifying coin handling throughout its operation.

“Our daily transactions take less time, it’s more accurate and it frees me up to do other tasks”

Home State Bank chose Cummins Allison to help improve its ability to process commercial deposits at its heaviest-volume branch. Located in the central business district of Crystal Lake, Ill., Home State Bank’s high-volume branch processes an average of 500 deposits daily or between 9,000 to 10,000 deposits each month. Seeking a solution to better manage the existing volume, as well as provide bandwidth for future expansion, Home State bank found the answer in the speed and capacity of the JetScan iFX i200.

Processing currency at 1,200 notes per minute, the JetScan iFX i200 is the fastest desktop currency scanner in its class. It processes bills 20 percent faster than comparable machines with up to 60 percent fewer rejections. Not only does it instantly detect incorrect notes during counting and off-sort them without stopping, but the JetScan iFX also spots counterfeit notes that other equipment might miss.

“Our daily transactions take less time, it’s more accurate and it frees me up to do other tasks,” said Lesley Smith, branch manager, Home State Bank. “We’re one of the busiest branches, and we use the JetScan iFX to process ATMs, commercial deposits, personal deposits and selling to and from the Federal Reserve. With the volume of cash we put through, having two pockets is amazing.”

To better manage its high-volume coin transactions, Home State Bank selected the Cummins Allison Money Machine. In addition to the saving time at the teller lines, the coin machine provides a point of differentiation from other banks in their market. The coin counter improves customer service and gives tellers more face time with customers.

Prior to installing the Money Machine: “Tellers would go to our back room to process coins. That would take time away from our customers and we would lose the opportunity to talk with them,” said Curt Foglesong, Home State Bank head teller. “We’re saving about an hour a day running coin, especially during Christmas when the Salvation Army comes in. It’s super fast and the staff is much more relaxed. They’re able to focus more on interacting with customers, their face time has improved and they’re exploring more cross-selling opportunities. In addition, the customers love it.”

“Today’s successful community banks are getting ahead of their competitors by implementing high-quality lobby engagement tools such as self-service coin counters, as well as streamlining back-office processes with solutions like high-speed currency scanners,” said Doug Mennie, president of Cummins Allison. “We are pleased Home State Bank is realizing the benefits of multiple currency and coin solutions that are helping streamline operations, improve employee productivity and boost customer service.”

For more information about how community banks can improve their operations with high-speed currency scanning and self-service coin counter solutions, visit www.cumminsallison.com.

About Home State Bank

Home State Bank has served McHenry County since 1915 with the goal of creating a better quality of life for its neighbors. It has worked in partnership with businesses and residents to build a better community, which continues to grow today. Home State Bank seeks to build long-term relationships which last for generations. For more information, visit www.homestateonline.com.

About Cummins Allison

Cummins Allison is a global leader in developing technologies which count, sort and authenticate currency. The U.S.-based company has a 125-year heritage of leadership in technology and product innovation and currently serves the majority of financial institutions worldwide, as well as leading organizations in retail, casinos, law enforcement and government. The company holds more than 350 U.S. patents and has ongoing research and development (R&D) investments double the industry average. Cummins Allison is headquartered near Chicago, IL with R&D centers near San Diego, CA and Philadelphia, PA and wholly owned subsidiaries in Canada, the United Kingdom, Ireland, Germany and France. The company also has an extensive sales and service network with more than 50 offices in North America and is represented in over 70 countries. For more information, visit www.cumminsallison.com.