Bill Budde is the Vice President of Banking Strategy and Solutions for Hyosung Innovue. In this role, he develops and manages Hyosung’s hardware portfolio and helps banks and credit unions make decisions about branch transformation technology and unlock the value of those investments. Prior to joining Hyosung, Bill worked at JPMorgan Chase in both the Retail Banking and Merchant Processing business units, developing and implementing many self-service solutions and capabilities.


Financial institutions are constantly under pressure to ensure their operations are running as efficiently as possible. A major area of focus is cash handling and reconciliation, which is one of the most time-consuming tasks for banks. This focus created the traditional template for the job of bank teller, with significant value placed on the ability to count quickly and accurately. About 15 years ago, the introduction of deposit automation functionality in ATMs significantly increased the cash automation tools available to banks while also dramatically improving customer usability and convenience. This combination of advanced capabilities and customer demand kicked off an industry-wide ATM refresh cycle, with banks of all sizes looking to take advantage of the new technology. More impactful to the industry, it also jump-started a branch transformation trend that brought these new self-service capabilities inside the branch, allowing banks redesign their branch experiences to be more digitally-focused and in-line with modern customer expectations.

Cash recycling technology came to the US market pretty quickly on the heels of deposit automation. After taking a couple years to adjust to the vagaries of US currency quality, adding this technology to the teller line, in the form of a Teller Cash Recycler, has become a very popular upgrade to branch operating models for banks of all sizes. Adding recycling technology to the self-service channel has been a much slower ramp-up, however. With deposit automation ATMs installed across the country, banks weren’t too keen on the topic of having to replace such new investments. Roughly ten years after their introduction in the US, recycling ATMs still only make up about 10% of the bank ATM population. Now, though, the combination of aging deposit automation machines and continued pressure on operational efficiency has led to an increase in interest in recycling ATMs as a new refresh cycle begins and banks look to get the most out of their investment.

With the technology gaining maturity, the benefits derived from ATM recycling are pretty well documented. Fewer replenishment events, less replenishment-induced downtime, easier multi-denomination support, lower incidence of reconciliation issues to research – these are all factors of ATM recycling that drive improved operational efficiency. The banks that were early adopters for the technology are beginning to experience these benefits in streamlined branch operations and improved cash efficiency, and their experiences are providing concrete evidence for the next wave of adopters as they sharpen their pencils on their business cases.

The benefits of recycling are substantial. Cash movement is still required in order to maintain a fleet of individual devices, however, so while cash touches are greatly reduced, they aren’t totally eliminated. Even a reduced volume of cash movements requires a set of manual processes to manage the cash across a branch. This is where the next evolution in cash recycling comes in: Hyosung’s exclusive Secure Cash Transfer. With Secure Cash Transfer, cash is moved in an automated and controlled fashion from one device to another without exposing it to manual processes, eliminating multiple cash counting points and dual control requirements. Any physical movement from one location to another is done in a locked cassette. Loading and unloading of cash at a device is done in an automated fashion using the same recycling technology used for customer transactions, so every bill is authenticated, counted, and stored automatically, leading to a fully automated reconciliation process. In short, no more manual counting, sorting, and reconciling cash across the branch.

Secure Cash Transfer is already embedded in Hyosung’s industry leading MS-500 series of TCRs. With our latest family of ATMs, our Series 9 family, that technology will also be brought to self-service devices, allowing all cash automation technology in a branch to work together as a cohesive unit, fully automating the branch cash ecosystem.

Launching in the fall of 2023 and available for order now, Hyosung’s new Series 9 recycling ATMs with Secure Cash Transfer are the next step forward in the evolution of self-service banking.

  • Support for up to six denominations
  • Expanded capacity for worry-free maintenance
  • Transit cassette functionality to enable Secure Cash Transfer

Featured Products

Hyosung 9L

Hyosung 9L

The Hyosung 9L combines state-of-the-art self-service capabilities with the latest advances in cash automation to deliver the pinnacle in branch transformation technology. A robust set of transactions provides access to a wide range of banking needs through Hyosung’s industry-leading core integration solutions.

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Hyosung 9T

Hyosung 9T

The Hyosung 9T combines state-of-the-art self-service capabilities with the latest advances in cash automation to deliver the pinnacle in branch transformation technology. A robust set of transactions provides access to a wide range of banking needs through Hyosung’s industry-leading core integration solutions.

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Hyosung 9D

Hyosung 9D

The Hyosung 9D combines state-of-the-art self-service capabilities with the latest advances in cash automation to deliver the pinnacle in branch transformation technology. A robust set of transactions provides access to a wide range of banking needs through Hyosung’s industry-leading core integration solutions.

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Hyosung 9I

Hyosung 9I

The Hyosung 9I combines state-of-the-art self-service capabilities with the latest advances in cash automation to deliver the pinnacle in branch transformation technology. A robust set of transactions provides access to a wide range of banking needs through Hyosung’s industry-leading core integration solutions.

View the Hyosung 9I

See Secure Cash transfer in action here. For more information on how our new Series 9 ATMs can transform your banking experiences, please visit hyosunginnovue.com or contact your Hyosung sales representative or your local Authorized Hyosung Partner.

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