Self-Service Personal Remittance

Offering money transfers in the retail branch is an essential function for all financial institutions. And, due to the explosive growth of the underbanked market it has become a major growth opportunity for many financial institutions. However, these seemingly fast transactions will create longer lines and hamper the generation of revenue in the branch by preventing staff from servicing the bank's other customers. Many financial institutions are asking, how do you unlock the underbanked market without creating detrimental side effects in your retail operations?

Banks and credit unions can gain the efficiencies they are seeking with Source Technologies' self-service personal remittance solution. This flexible and reliable solution allows staff to focus on value-added activities and improved customer service, without being bogged down with manual processing of money transfers. And, because many different types of transactions can be performed, it also provides customers a fast and easy way to cash their checks, pay their bills, or purchase money orders, without waiting in line for a teller.

The self-service personal remittance solution can be configured with a total self-service kiosk or can follow the assisted self-service model, which allows a bank's customers to manage their own financial transactions, while maintaining the teller as a critical component in the overall transaction.

Created using the PilotPointSoftware Platform, the user interface is extremely easy to navigate and seamlessly integrates with your money transfer processing system. It also allows for full network management, real-time system monitoring, narrowcast digital advertising, and the ability to update software remotely. The PilotPoint transactional kiosk reads and images checks, accepts and dispenses cash, and accepts debit and credit card transactions.

With these capabilities, Source Technologies' personal remittance solution provides many benefits for both financial institutions and their customers:

• Improved utilization of both staff and retail space
• Cuts customer wait time and improves customer satisfaction
• Reduces or eliminates balancing and back office errors and expenses
• Decreases overall operational costs
• Supports additional applications such as self-service bill payment, additional product information, cross selling and check cashing
• Frees staff to take full advantage of customer contact – to sell, up-sell, build brand awareness, and educate
• Multi-lingual capabilities can drive greater sales and loyalty from the growing non-English-speaking segment of U.S. consumers

With the rapid growth of underbanked customers many banks and credit unions are faced with the challenges of offering services to this important market, while not bogging down their operations and retail staff.

An efficient remittance solution is now available from Source Technologies. By installing Source Technologies' personal remittance solution, retailers can finally concentrate staff on essential revenue generating activities and offering enhanced customer service.

Self-Service Personal Remittance: Highlights

• Staff is able to focus on improved customer service and cross-sell and up-sell opportunities.
• Financial institutions can reduce operational costs and uncover an entirely new revenue stream.
• Easy integration with existing back-end systems.