Glory Blogs

Throughout its longstanding history, Glory has been at the forefront of cash handling systems research, design, development, and installation. On this site, experts from Glory share their unique insights on all things cash management from across the banking, retail and gaming sectors.

 

As leaders in our field, with innovation at the heart of what we do, our specialist team of Glory bloggers is here to address all the major issues, topics and trends, affecting the use and management of cash today. We therefore encourage users of this site to engage with us by sharing comments on our blogs and fostering dialogue with Glory experts.

Posts
A new pound coin and the need to adapt
Paul Race - 06/02/2017
Our round pound coin seems to have been around for ever, but actually it’s only been 34 years. Up until 1983 we used paper one pound notes, but it was felt that their declining value made a coin more appropriate. In fact the notes weren’t completely withdrawn until 1988. At the time it was stated that whereas the average note lasted nine months the...
The Art of the Branch – Applying Technology
Mike Bielamowicz - 03/02/2017
The conversation about how we are going to do this “branch transformation” thing, and the role of technology in that process, continues: “So, the future of banking is enabling a customer to come into a branch and interact with a bank employee who isn’t in the branch?”Cornerstone Advisors report: “The Quest for Video Teller ROI”, November 2016 Our c...
Another euro note - again?
Szandra Pap - 17/01/2017
What consumers, retailers and banks need to know about the introduction of the new 50 euro note The 50 euro is one of the most popular euro notes – not just among consumers, but also counterfeiters. In order to make life harder for criminals, the European Central Bank (ECB) is launching a new version of the orange-brown note with enhanced security ...
Money makes the world go around but technology makes it go faster
Paul Race - 16/01/2017
I suppose we all have guilty secrets. Mine is an admiration for a young Liza Minnelli in the 1972 film ‘Cabaret’. I first saw it as a child and it was the tunes that have stayed with me, and one in particular. The lyrics of ‘Money makes the world go round’ may be somewhat repetitive but it is a refrain that not only holds true today but one that ha...
Big expectations for The Big Show – Siôn Roberts
Siôn Roberts - 13/01/2017
Mid-January has come around once more, and I find myself looking forward to one of the highlights of my year. No, it’s not my birthday – although that’s also in the middle of this month – it’s the National Retail Federation BIG Show, aka “NRF” in New York. I’ve been involved in Retail Technology for a quarter of a century and NRF has become a regul...
Amazon Go – supermarket of the future?
Szandra Pap - 03/01/2017
Imagine grocery shopping without checkouts. Think of all the time you’d save, not waiting in the queue, no stacking the conveyor belt, - all this might become a reality with Amazon Go. Just a few days ago, Amazon released a video about an 1,800 square foot Amazon Go flagship store which will open next year in Seattle. Using a mobile app, shoppers c...
A lesson for us all?
Paul Race - 21/12/2016
We’d just spent a long day planning for the RBR Branch Transformation event, Christmas was around the corner, and the TV companies had already begun to show films with a festive theme. I pulled up a chair, relaxed and started watching George C Scott take on the role of Ebenezer Scrooge. Except that’s how it began. As I sat there I started pondering...
Dispelling the cashless myth – A seasonal tale
Paul Race - 15/12/2016
It’s the holiday season, a time to expand your imagination and, if you’re a child, a time to believe in the magic that accompanies this time of year. In keeping with tradition many of us in the UK will be taking children to the theatre to watch one of our very British pantomimes. Here they will encounter villains and heroes (usually a woman dressed...
All I want for Christmas
Paul Race - 12/12/2016
Wherever you look, cash is in the news this Christmas. In India the main story has to be the ingenious ways in which some people have responded to the withdrawal of large value notes and are converting their cash hoards to legal tender. Apart from the tax implications, two points from the article struck me – the extent to which people in India stor...
Branch Transformation - Art or Science
Paul Race - 28/11/2016
I recently spoke to a colleague who studied Banking at university in the seventies. This was a time when banking was centred on the branch and the branch manager was an important figure in the local community. Opening an account was a big event for a young man about to leave home. You usually enrolled at the same bank as your parents and the expect...
Knowing who you are
Javed Anjum - 24/11/2016
I recently spent an enjoyable evening watching Bill Bailey in concert. One of his many anecdotes was about his experiences with Facebook. Someone had set up an account in his name and what was particularly frustrating was that the impostor ‘was leading a much more interesting life than I was’. Joking aside, there is a far more sinister side to this...
Knowing your product – and your customer
Javed Anjum - 14/11/2016
A few years back a friend of mine literally inherited the family silver. Intrigued as to its value, he took it along to a well-known auction house in London. There he met the company’s silver expert who examined each piece in detail and after considering age, origin and condition was able to attach a value to each item. Though disappointed by the f...
Small footprint- Big impact
Paul Race- 20/10/16 - 20/10/2016
When you step into The Banking Hall in Cornhill, the first thing that hits you is the impressive space. Today you can hire it for an event or party for 280 seated, or around 800 standing guests. The building signifies power and security and between 1930 and 2002 was the Head Office of Lloyds Bank. It’s certainly impressive, and signifies a time whe...
Extinction, dinosaurs and a referendum - a distorted view of cash
Paul Race - 06/10/2016
I read with interest a 26 September article which stated that card payments will surpass cash payments for the first time ever this year. The article cites research from Euromonitor International which claims card payments worldwide will total $23.1 trillion this year. Now that’s a vast number but of course it also means that a similar, if slightly...
Cash: a wider perspective
Paul Race - 04/10/2016
Recent focus on the G20 Summit encouraged me to take a global look at cash, or at least at the situation in four countries with which I have become fairly familiar. I’ll confess it wasn’t a particularly scientific approach, but a brief Google search was sufficient to encourage me that in all four (India, Japan, UK and USA) cash usage is a hot subje...
GLORY INNOVATION 2016: Banks and retailers need “couple’s therapy” for successful collaboration
Szandra Pap - 04/10/2016
This September, Glory Global Solutions (Germany) GmbH held a two-day conference in Berlin for the banking and retail sectors. With a theme of “Banking and Retail 2.0: The market in transition”, the GLORY INNVOVATION 2016 conference saw guest speakers and attendees intensively and controversially discuss new concepts for optimising cash cycles; as w...
When it's important, you need a specialist
Paul Race - 21/09/2016
There are times when you need to use a specialist. With health issues a GP can diagnose ailments but if more sophisticated treatment is required they will normally refer you to someone specialising in that particular area. These days there are even rankings that provide you with more detailed information before you make your choice of specialist. O...
Who still uses bank branches, and why?
Paul Race - 19/09/2016
The closure of bank branches has always been a contentious issue, with politicians claiming an adverse impact on local economies. In the UK, around 3000 branches have closed in the past decade but around 8000 remain. So is the branch still important? There is no doubt the way people bank has changed, with increasing usage of Internet and mobile ban...
A remote chance?
Paul Race - 03/08/2016
Dictionaries are becoming a bit like the Guinness Book of Records. The content varies according to which version you are using. Did you know that since 2000 the Oxford English Dictionary is updated four times a year? In June this year new words like ‘glamp’ and ‘starchitect’ were added and there were revisions to around 2000 other words. I find it ...
Fast, secure and reliable – what’s not to like?
Paul Race - 21/07/2016
Much has been made of the costs attached to different payment mechanisms and the need to minimize these but putting that aside, what makes a ‘good’ transaction from the merchant perspective? Is it speed, certainty, lack of confrontation? From the consumer side I would add lack of potential embarrassment. This can take various forms. A transaction c...
What makes a great team?
Paul Race - 18/07/2016
It’s going to be an exciting summer for sports fans. The Olympic Games in Rio, seven Test matches, rugby tours to the Southern Hemisphere and of course Euro 2016. Picking a winner isn’t easy, but retrospect makes us all experts. Whatever the sport, we armchair fans can all name our ‘greatest’ teams, whether it’s Brazil 1970, the West Indies cricket...
Innovation - finding the right answer
Paul Race - 11/07/2016
For those of you outside the UK, any visit to London is not complete without a trip to a traditional pub. In recent years these institutions have had to evolve as large numbers have closed. As well as our famous ‘warm’ beer you’re now likely to find up-market dining facilities, live music or a growing phenomenon – the pub quiz. The popularity of su...
Realising the value of data
Vanessa Broome - 02/06/2016
The global financial industry is in a heightened state of change today. Proliferation of channels, government regulations, internal and customer accessed technology, operating costs, capital investment choices, general and competitive business challenges are everyday, and real-time.Financial institutions need to differentiate themselves by finding ...
Will going cashless lose you customers?
Paul Race - 26/05/2016
I read two interesting articles in the press this week. One stated that the Dutch are to abolish cash payments for public transport, the other, quoting a report from UK Payments, stated that debit cards are expected to overtake cash as the most popular payment form in the UK by 2021. It went on to say that while in that year there will be over 14 b...
Bank notes were a hot topic this Spring
Paul Race - 23/05/2016
While Boaty McBoatface continues to grab the headlines in the UK, the media has recently also shown a great deal of interest in whose face appears on our banknotes. Indeed, the stories display interesting parallels, not least an upsurge of public interest and in at least one instance, a seeming disregard for the ‘people’s choice’. April was a month...
Reflections On EuroCIS 2016 – It’s all About The Experience!
Céline Blanchot - 21/03/2016
Since the end of this year’s EuroCIS 2016 conference in Dusseldorf, I’ve been reflecting on everything I saw and heard from other exhibitors and from customers. The main theme of conference was the “customer experience”. More than 10,000 exhibitors showcased their latest innovations focussed on helping retailers enhance their customer satisfaction ...
Branch Transformation - What do customers really want and how can banks give it to them?
Paul Race - 14/03/2016
We’ve all seen the statistics supporting the death of the bank branch. Average monthly branch transactions in the US have fallen by around 50% in the past 20 years (source FMS, May 2015) and recent UK press coverage claims that footfall at UK branches has dropped by 30% in the past four years. This begs the question - what is the role of the branch...
Do low interest rates make leasing superfluous?
Christian Sindel - 03/03/2016
Cutting interest rates, yet again the European Central Bank has stuck to its policy to flood the market with cheap money to counter the economic slump in the eurozone. Historically low interest rates over the past couple of years have made financing easier than ever. Or has it? It is true that costs for mortgages are at an all time low and small va...
In Cash We Trust
Paul Race - 29/02/2016
When I was a student my mother presented me with a note that her father had given her as a child, She said ‘It’s German and it’s worth a thousand marks’. As you’ve probably gathered it was a 1000 Reichsmark note dated April 1910 and therefore literally ‘not worth the paper it’s written on’. I still have the note. I use it as a bookmark and have jus...
When it comes to cash, necessity is the mother of invention
Paul Race - 25/02/2016
As a British person attending the ATMIA Conference in New Orleans this week, I find myself feeling that the US is a society divided by extreme views. With the impending US elections I have heard people “discussing” in often heated tones the rights and wrongs of democrats vs republicans or vice versa. There’s the ever present highly emotional debate...
The cost of cash - for business, the environment and society.
Ben Thorpe - 16/02/2016
Nothing in life is free – certainly not money. You can argue that all forms of payment have a cost associated with them in one way or another but unlike many of the new payment propositions out there, you still know where you stand with cash. The ever-increasing array of payment technologies on offer can easily lead to confusion for both the consum...
NRF Musings from Glory Global Solutions
Jackie Kuehl - 23/01/2016
With another exciting National Retail Federation conference behind us, Glory couldn’t be more pleased with the activity and interest we experienced in our booth. As for the show in general, a major theme focused on the quest to engage consumers with an omnichannel experience. The exhibit floor showcased its share of technologies in digital, mobile,...
The death of the high speed sorter
Ed Brindley - 01/12/2015
The annual ICCOS Americas event is almost upon us, but a glance at the agenda has given me a sense of déjà vu. One of the breakout topics is entitled “The Death of the High Speed Sorter” – precisely the topic I have covered previously at the same event in 2012 and 2014. One of the main tasks of any consultant is to challenge and add value. With thi...
ICCOS Asia & Newton’s 3rd Law of Thermodynamics
Ben Thorpe - 16/11/2015
Presenting recently at the ICCOS Asia conference in Malaysia, I was asked to talk about the changes that retail cash automation is having on other stakeholders in the cash cycle: the banks, the ATM deployers, the security industry and also the central banks. In some parts of the world retail cash automation is very much in its infancy or indeed non...
In banking, as in rugby, there’s no room for human error
Paul Race - 20/10/2015
The Rugby World Cup has provided numerous iconic images but the vision of South African referee Craig Joubert sprinting from the field at the conclusion of the controversial Scotland Australia match will live long in the memory. Slow motion footage shows that the referee was mistaken in awarding Australia a last minute penalty that took the game aw...
Time to empty the jelly moulds
Ben Thorpe - 16/10/2015
It’s a common habit. I tend to store mine in an antique jelly mould. But did you know that hoarding coins can lead to an eight year prison sentence plus a fine in the Philippines? Now that may seem a bit harsh for trying to avoid bulging pockets, but with 28 billion coins in circulation in the UK, for example, you can see how it might become a majo...
A Cash Wager
Ben Thorpe - 14/10/2015
If I remember one thing from university it is Pascal’s Wager. Blaise Pascal was a seventeenth century French philosopher, mathematician & writer. One of Pascal’s most famous works was the Pensées (Thoughts), which was published posthumously in 1670. His best known “thought” is often called Pascal’s wager and it goes like this: You start by aski...
Optimising cash for retailers with smart safes.
Paul Race - 09/10/2015
Many retailers face the same challenges when it comes to managing cash. Expensive staff time is spent processing cash and correcting errors, only for the cash to be stored on-site before it can be deposited in a bank account, hindering the opportunity for it to be used elsewhere. Not only are these processes costly and inefficient – cash left on th...
A cashless society? Please take note
Paul Race - 05/10/2015
What is a cashless society? Surely not one where there is the equivalent of £1000 in bank notes in circulation for each person. That, according to the Bank of England, is the current situation in the UK and the aggregate demand for bank notes is increasing. Indeed, the number of notes in circulation has trebled in the past two decades. £62 billion ...
Branch transformation – back to the future - the role of the retail banker
Ben Thorpe - 02/10/2015
Every two years Bangor University in the UK hosts the George Rae Memorial Lecture. To many of you the name may not be familiar, but Rae was a best-selling author of his day. He may not have reached the levels of Mark Twain’s ‘Adventures of Huckleberry Finn’ that year, but ‘The Country Banker’ required a second edition just a few weeks after its Apr...
Why Monitor an Attended Device?
Bryan Christophersen - 28/09/2015
Everywhere you look these days someone, somewhere, is monitoring something; CCTV on the streets, speed cameras on roads, entry and exit cameras in car parks, even your location via your Smartphone Apps, the list is endless. Not surprisingly that list includes the ATM you walk up to when you need cash; how else will someone know that it needs more c...
Reports of the death of cash are hugely exaggerated
Paul Race - 29/05/2015
A landmark proposal has seen the Danish government consider ending the obligation of retailers to accept cash, a global first, with the implication that paper notes and coins could soon lose their grip on their status as legal tender. Figures from the Payments Council released last week, meanwhile, showed that cashless transactions have overtaken t...
Would you accept this banknote as payment?
Ed Brindley - 15/04/2015
If you said yes you wouldn’t be alone. But look closer and you’ll notice staining at the top and bottom edges. And that means you could be handling stolen goods! Recent initiatives at the central bank level have made me think about how ink-stained notes could be spent across Europe despite the likelihood that they are stolen property. The ECB and i...
The Retail Cash Chain: A new twist on an old idea
Sion Roberts - 24/02/2015
I discovered recently that the “Retail Industry” (or at least the concept) was officially founded in the Middle Ages - tailors would cut their larger bolts of cloth into smaller quantities for individuals to buy in consumable amounts to do with what they would. The word “retail” comes from the Old Norman French word “retaillier”, which quite litera...
Header cards make sense – don’t they?
Ed Brindley - 22/01/2015
There are few more guaranteed ways to start a debate in a cash centre than to mention header and trailer cards. To the casual observer this may seem a rather dry subject – after all cash centres just process cash don’t they? But, as with so much else in life, the devil is in the detail. The methods used to process cash are fundamental to lowering o...
3 reasons desktop sorters make a more sound investment than high speed machines
Ed Brindley - 04/12/2014
Recently I attended a conference where a very good question was posed by a senior cash centre executive; “Do we invest in high speed sorters, or instead invest in several desktop machines that together give the same capacity?”. Having worked around the industry for a number of years and seen both sides of the debate, I believe the balance has shift...
Universal Banker: Essentials
Joe Gnorski - 11/11/2014
In August of 2014, the American Bankers Association [ABA] announced its new ABA Universal Banker [UB] Certificate, “which is designed to prepare frontline branch staff to serve as the single point of contact for satisfying the diverse needs of walk-in customers.” “Universal bankers have multifaceted job responsibilities that range from basic transa...
Celebrating the Credit Unions – Local Service, Global Good
Ben Thorpe - 16/10/2014
Until I lived in Australia I had never come across a Credit Union, or Mutual as they are also often referred to, but I very soon came to understand just what an important part they played for many people across the country. Australia being such a massive country, providing first class, cost effective financial services was, and still is, no mean fe...
A one-sided conversation
Mark McCallum - 02/10/2014
A recent psychological study concluded that ‘talking to yourself makes you smarter’ which must be a comfort to the average ‘blogger’. The proviso is you have to speak respectfully to yourself and must not be over-critical, giving self-praise. I can live with that. But what about talking to inanimate objects such as self-service machines? Do the sam...
The True Cost of Internet Banking
Ben Thorpe - 11/04/2014
Unfortunately I had my tablet stolen from my bag recently on a trip overseas. Whilst the tablet was insured, with the data protected, and was replaced quickly when I returned home, it got me thinking about some of the costs we take for granted today which perhaps we didn’t not so long ago, and the risks we are happy to accept in return for making o...
A Cashless China? Don’t Believe the Hype
Ben Thorpe - 14/03/2014
Browsing through the pages of the FT website the other week I was amazed to discover an article which predicted the rise of a cashless China. Highlighting the recent explosion in credit/debit cards, of which there are currently 4.2bn of in circulation, the article states that approximately 70 percent of consumers in China’s largest cities prefer ca...
India's Cash Journey
Ben Thorpe - 11/02/2014
Nowadays when you arrive at Mumbai airport the first thing you notice when you hit the tarmac is the new passenger terminal officially opened by India’s PM in January. Having travelled to India on numerous occasions in the last two decades I feel that this is a welcome addition to the city’s infrastructure. I’m sure that the roads which lead to and...
Cash centers and the future of retailer cash recycling
Richard McMurdo - 14/01/2014
I believe that the job of any consultant is to look at things with a fresh pair of eyes and to question the way that things are done today, and to think about the way things could done be tomorrow. This is a blog that looks at what tomorrow potentially holds for cash recycling. In the past 10 years, banks, retailers and casinos have invested heavil...
CI-10 Featured on French National TV News
Ben Thorpe - 21/10/2013
Hot on the heels of a Glory TCR being featured on BBC News at 10, a recent broadcast in France demonstrates how the Glory CI-10 retail solution is helping to fight against crime.Originally aired on 21st October and now available to view online, the video was part of a daily news bulletin on French national channel TF1.The Red Dot Design Award winni...
Glory Retail Partner Kiosco Exhibits at Fruit Attraction
Ben Thorpe - 18/10/2013
Glory Spain CashInfinity partner, Kiosco Cash, recently exhibited between 16-18th October 2013 at Fruit Attraction - the largest fruit & grocery exhibition in Spain.Held in Madrid in an exhibition hall spanning over 21,000 Square metres, more than 28,000 visitors attended in order to see what the 670 exhibitors had to offer.Kiosco, in a joint e...
Why is cash recycling an issue that's not all for one, but one for all?
Richard McMurdo - 14/10/2013
The other day I ran a series of workshops for a major bank regarding a project affecting a number of different customer touch points. Given the wide-reaching nature of the project, attendees included employees from various divisions — retail, ATM, IT, business banking, cash, "alternative channels," innovation and so on. At the end of each...
E-payments are to cash what Robin is to Batman
Richard McMurdo - 08/08/2013
I am in the cash industry, but I am still not blind to the reality that societies, governments, and central banks worldwide are doing their utmost to reduce the number and value of cash payments. Cashless is being embraced with aplomb and there's no reason why it shouldn't be. It certainly provides a number of advantages in terms of production, rec...
70 is the new 40, but can banks keep up with the pace?
Richard McMurdo - 25/06/2013
On a cold and drizzly evening I found myself at home watching the '70s sci-fi flick "Logan's Run" and it occurred to me that if the main character, Logan 5, were alive today he would probably be working for a bank. For those who haven't seen the film, Logan's job was to 'terminate' people as soon as they reached the age of 30. Why would L...
Where does the future come from?
Richard McMurdo - 05/06/2013
In the banking industry and among those who commentate on it, talk of innovation and the "branch of the future" is rife. However, I've come to the conclusion that true innovation is rare. Globalization means that the future is often about copying and pasting, about ripping off and doing better, and about competing rather than creating. Co...
Sentiment and science: reasons to keep the coin
Richard McMurdo - 01/03/2013
It always saddens me when coins are taken out of circulation, and I’m very much of the belief that a coinless world wouldn’t necessarily be a better one. As the oldest standardized medium of exchange on earth, coins have existed in some form or fashion for eons and it’s fair to say that they’ve served us pretty well to date. Despite this, and what ...
4 things banks should be spending their money on in 2013
Richard McMurdo - 08/02/2013
As we were finishing a lunch meeting the other day, the bank executive I was with laid down a challenge. He said, "Richard, my cab will be here in five minutes, so, taking into account the time it takes me to walk from this table to the front door, you've got three minutes in total to tell me the top four things I should be spending my money o...
The rise of the 'light' bank branch
Richard McMurdo - 04/01/2013
In a recent article about what we can expect from branch banking in 2013, I predicted the rise of the 'light' bank branch. It's something that I thought was worth picking up on here, and expanding on slightly. So what is a 'light' bank branch? It's not a reduced model of a conventional branch; it's a new breed of branch that targets specific audien...
From production line to personalized banking: Are we coming full circle?
Richard McMurdo - 30/10/2012
The other day whilst getting around to eventually de-cluttering my loft, I came across a box of my old school exercise books. Flicking through my history book, I remembered lessons about the English industrial revolution and learning about inventors such as Crompton and Arkwright, who turned cottage industries into mechanical production lines in th...
Migrate the transaction, not the customer
Richard McMurdo - 05/10/2012
Bird and animal migration tends to be driven by in-built needs related to food or climate. If only banks found it as easy to migrate customers … For a number of reasons, from richer data to cost benefits, there is a move for banks to encourage customers to bank through new channels such as online and mobile. However, it's not an easy task, namely b...
The clue’s in the name, or is it?
Richard McMurdo - 04/09/2012
Why are banks the first to label themselves as "retail," but the last to behave like a retail store? In my last post I suggested that there were a number of things banks could learn from retailers in order to turn more of their customers into profitable customers. I focused on the product, looking at how banks could create more attachment...
How can banks put the retail back into retail banking?
Richard McMurdo - 25/07/2012
It's probably fair to say that around 90 percent of customers who go into a retail shop will purchase something, and so are profitable. Unfortunately, the same can't be said for retail banks. How can banks tackle this problem and make their walk-in customers more profitable? Something that's struck me recently is that perhaps retail banking could b...
Optimizing cash forecasting: How to transform idle cash into active cash
Richard McMurdo - 14/06/2012
It's no surprise that customers still love cash; transactions are fast, convenient, anonymous and almost invariably free. However, while access to cash from the bank ATM or branch may be free for the consumer, making sure there is enough cash available whenever a customer demands it can be costly and challenging for banks. Not only must they meet f...