Self- Service Coin Machine

Self- Service Coin Machine

The topic that this paper talks about is the use of self-service machine in the financial
institutions. The audience that is targeted by the paper include the consumers of the financial
services that uses coins, the stakeholders within the financial institutions that include
management of banks, and the policy makers in the financial institutions. Customers will be
relieved from the tedious process of sorting and rolling the coins. They will also benefit from
reduced banking wait times. Subsequently, the institutions will benefit from the improved
customer experience due to reduced customer wait times. It will also benefit from reduced teller
errors and offer improved banking products.
Before the introduction of the self-service machine, different kinds of financial
institutions helped various customers exchange their currencies though some refused the coins.
There was a possibility of customers who walked to the financial institutions with a massive
amount of coins that have not been sorted being turned away. Turning customers away reduced
the customer experience within the institutions. The customers were expected to sort their coins
and count them before handing them over to the tellers. Some of the financial institutions
provided coin wrappers for free to the customers, but this was not guaranteed. In a nutshell, self-
service machine is to provide a solution to the problem of banking the coins.

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