Smart safes can help retail and commercial customers simplify cash handling by counting and recording deposits on-site while reducing the need for employees to transport cash to a branch. But reliable equipment and armored transportation are only part of the equation.
Banks and credit unions should also understand how a smart safe provider’s broader business model affects their existing customer relationships. Otherwise, recommending the wrong provider could inadvertently introduce a competitor into that relationship.
Before recommending a smart safe solution to your commercial customers, consider these four questions.
1. Does the provider offer competing services?
Understand the full range of services offered by the smart safe provider, including services such as provisional credit, money transmission, or other treasury-related services that may compete for your customer’s broader financial relationship.
2. Will the program work with our customers’ existing accounts?
Confirm that your customers can use the smart safe program while maintaining their existing accounts at your institution, without being required to establish a new banking relationship elsewhere.
3. Where will deposits go, and how will the process work?
Understand how cash collection, reporting and deposits ultimately connect to your customers’ accounts.
Clear responsibilities among your institution, the smart safe provider and the customer can help minimize confusion over cash logistics, reporting and reconciliations.
4. Who handles customer support?
Missed pickups, reporting questions and deposit discrepancies can directly affect your customers’ experience.
Ask who handles customer inquiries, how issues are escalated, and how the provider coordinates with your institution. Look for a provider that offers responsive service and clear accountability rather than creating another layer between your institution and its customers.
How Shields Supports Your Existing Banking Relationships
Shields Business Solutions provides smart safe solutions designed to complement your institution’s banking services, not compete for your customer relationships.
Our partnership model establishes clear roles: your institution maintains the banking relationship, while Shields manages smart safe technology, cash reporting and secure armored transportation. Deposits are credited to customer accounts at your institution, with no need to establish a new banking relationship through Shields Business Solutions.
We don’t seek to replace your institution’s banking relationship or compete for your customers’ financial business. Instead, we help your commercial customers streamline their cash operations through:
- Smart safe technology and reporting: Track cash activity and deposits by user to support monitoring and reconciliation.
- Secure armored transportation: Reduce the need for employees to transport deposits to a branch.
- Dedicated customer support: Each customer receives an assigned relationship manager, responsive communication and direct access to senior management.
The result is a cash-management partnership designed to support your customers’ operational needs while keeping the financial relationship where it belongs: with your institution.
Benefits of a Shields Partnership
Partnering with Shields Business Solutions can help banks and credit unions expand their commercial capabilities while reinforcing existing customer relationships.
- Expanded commercial offerings: Provide customers with access to smart safes, cash reporting and armored transportation.
- Preferred pricing and bundled programs: Develop tailored pricing and service packages for your commercial customers.
- Equipment financing opportunities: Explore opportunities to finance or lease smart safe equipment through your institution.
- Reduced branch workload: Fewer in-person cash deposits can reduce customer trips and free branch employees for other activities.
- Stronger customer relationships: Help cash-intensive businesses simplify cash counting, deposit preparation and reconciliation.
A Smart Safe Partner That Supports Your Banking Relationship
Shields Business Solutions provides smart safe and cash-management solutions to banks, credit unions and businesses across New Jersey, Pennsylvania, New York and Delaware.
By combining smart safe technology, secure armored transportation, cash reporting and responsive customer support, Shields helps financial institutions provide their customers with customized smart safe solutions.
Contact Shields Business Solutions to learn how a smart safe partnership can expand your commercial banking capabilities, simplify your customers’ cash operations and support the banking relationships you’ve worked hard to build.