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MOBILE & TELECOMMUNICATIONS | Mobile Software & Services / Application & Data Integration
teller.io

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Founded Year

2014

Stage

Seed VC - II | Alive

Total Raised

$5.19M

Last Raised

$1M | 1 yr ago

About Teller

Teller provides an API for bank accounts. It enables applications to connect with all of the user's bank accounts across institutions, providing one API to move money, make payments, view transactions, and more. Teller provides a suite of APIs allowing the user to not only build applications that can read data from bank accounts but also applications that perform write operations, e.g. making payments.

Teller Headquarter Location

120 Charing Cross Road 6th Floor

London, England, WC2H 0JR,

United Kingdom

Latest Teller News

Teller assist technology remains a cornerstone in banks’ cash management strategies

Jul 1, 2021

Teller assist units allow banks to boost cash handling efficiency and create a more personalised and secure banking experience for customers USA home to a third of the world’s teller cash recyclers RBR ’s Branch Transformation 2021 reveals that the migration of cash away from the teller, declining footfall in branches, and a wider shift towards cashless payments led to a slight fall in teller assist units (TAUs) in 2020. However, the number of teller cash recyclers (TCRs), which account for the majority of TAUs, increased, and it is recycling technology which will drive growth over the coming years. The number of recyclers rose in half of the 24 markets covered in the study. RBR’s research shows that the USA is the largest market for recyclers, accounting for a third of installations worldwide. Spain and Italy also stand out for having large numbers of TCRs. Recyclers are credited for their capacity to boost efficiency at the teller line, as they allow for the automation of cash handling at the teller counter, drive up the speed at which tellers can serve customers and reduce the number of cash-handling mistakes. The research shows that such technology has also proven a key enabler of branch transformation strategies, particularly the increasingly common open-plan format. By providing safe storage for cash, they allow banks to remove the protective screen from the teller counter, and thus facilitate a more welcoming atmosphere for customers. Number of teller assist units by type, 2016-2025 (thousands) Number of recyclers to increase by 8% by 2025 TAUs will continue to be valued for their efficiency gains, branch transformation potential and high security and RBR forecasts that the TAU market will return to overall growth. This growth will be driven by recyclers, which are forecast to increase by 8% by 2025. In some countries where cash use is relatively high, such as the USA, Brazil and Indonesia, banks will continue investing in TAU technology to improve their teller operations. Of particular note is the USA, where TAU numbers are expected to increase by 21% over the next five years. US credit unions and regional banks are beginning to deploy TAUs, while the larger US banks carry on rolling out units. Emily Beeby, who led RBR’s Branch Transformation 2021 research, commented: “Despite rising competition from other channels, it is interesting to observe how banks feel it is necessary to provide a secure and fast service at the teller line to complement self-service within the branch, with the aim of providing customers with a choice of where and how they can conduct transactions”. Tags:

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Research containing Teller

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Teller in 2 CB Insights research briefs, most recently on Jun 21, 2021.

Expert Collections containing Teller

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Teller is included in 6 Expert Collections, including Banking.

B

Banking

640 items

C

Capital Markets Tech

1,300 items

Companies in the capital markets tech space are providing software and/or services for investment banks, hedge funds, investment managers, and so forth. Companies included use technology across the front, middle, and back-offices and streamline all pre- and post-trade operations.

S

SMB Fintech

1,073 items

A

Automation in Banking

380 items

Startups providing solutions to banks to automate processes and operations.

F

Fintech

10,750 items

Excludes US-based companies

O

Open Banking

81 items

The open banking ecosystem is facilitated by three main categories of startups including those focused on banking-as-a-service, core banking, and open banking startups (i.e. data aggregators, 3rd party providers). These are primarily B2B companies, though some are also B2C.

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