I think that you are going to find as you move toward the process that you will still have to balance the items and sort them as to whether they go to Fed, other banks, on-us items etc. All of this will have to balance. You will also have to deal with systems going down. When it's centralized and one machine goes down, you move to the others. When it's spread out over several branches/tellers, you have the opportunity for lost time trying to keep more machines running and how are we going to process this work when we don't have a machine working. Also, more hands in the pot means more room for error.
I think in the long run, you will find that balancing and corrections especially of main runs should be centralized.
...it's all opinion, until proven otherwise...