Get your banking done and renew your drivers license – all under one roof! In June 2018, Nutmeg State Financial Credit Union opened their first ‘tellerless’ branch aside a new concept location for the Connecticut State Department of Motor Vehicles – known as DMV Express. With a vision to create a pleasant branch experience for […]
Category: Self-Service Banking
A unique public/private sector service and engagement model that provided a welcome solution to a community problem and afforded Nutmeg State Financial Credit Union the opportunity to serve their members with a better experience.
Globally, organizations are embracing digital transformation at an increasing rate. In part because of the proven benefits it offers that early adopters tout, but mostly because digitizing every part of our businesses has become the new standard. From a parochial view, when our industry peers and competitors are moving to digitize their entire businesses, transforming […]
As financial institutions of all kinds research branch transformation, most agree that the branch must shift from being a transaction-centric environment and adopt a more retail-inspired, service-centric atmosphere. Consumers have overwhelmingly embraced mobile and online channels for a number of banking-related tasks, but interestingly, the branch is still valued for advice, consultation and complex transactions.
The Need for the Personal Teller Machine There are 5 ways that customers interact with their financial institutions: online, mobile, ATM, call center, and branch. As users have flocked to online and mobile, financial institutions have poured money and resources to get the digital experience right, leaving branches to run as they have for 30 […]
There are five channels that consumers use to interact with their financial institutions: mobile, online, call center, ATM and the brick-and-mortar branch. All of these channels have seen significant investment in recent years except one – the branch. In order to deliver a true omni-channel experience, financial institutions are investing in their retail locations and re-thinking […]
When was the last time you were completing a transaction on a self-service kiosk? It was likely at a grocery store self-check-out or an ATM machine. In both cases, if you have a short, simple transaction, you seek out the self-service kiosk option. However, if you have a more complex transaction, you seek an option that offers assistance.
The first ATM was installed in 1967 at Barclay’s Bank in London, and introduced a new level of convenience to banking that had not been done before it. However, since this ground-breaking advancement, self-service banking technology has remained largely the same.
Consumers in the United Kingdom were introduced to self-service banking with the world’s first ATM at Barclay’s Bank in London in 1967. The United States was quick to follow with a banking transformation of their own using the same cutting-edge technology, with the first install of an ATM at Chemical Bank in Rockville Centre, NY in 1969.
A new global standard for self-service kiosks began with the EMV liability shift in early October 2015 for self-service kiosks, ATMs and POS terminals. This shift highlighted potential issues that could lead to fraudulent transactions and has since caused many businesses and banks to increase their focus on security.
The finance industry has been ramping up their “Branch Transformation” projects for several years now. The digital revolution has prompted banks and credit unions to think beyond traditional banking methods and focus on bridging the gaps between their channels: online, mobile, ATMs, call centers, and the brick-and-mortar branch.
At Source Technologies, we developed a personal teller machine to make the bank branch a self-service retail experience for customers requesting more autonomy.
Financial institutions have been talking about “branch transformation” for several years now, and the “Branch of the Future” for decades. Meanwhile, there has been a digital revolution overtaking virtually every other aspect of our lives.
Source Technologies attended Money 20/20 for the first time in October. The event is billed as “The World’s Largest Payments & Financial Services Innovation Event,” and with over 10,000 attendees, 500 speakers, and 20 content tracks, it’s certainly the largest payments & financial services conference we’ve seen.
Our team at Source Technologies just returned from the BAI Beacon 2016 conference in Chicago. Known for years as the Retail Delivery Show, BAI changed the format this year to introduce content in a more rapid-fire environment, with multiple sessions happening simultaneously in one large room.
With more and more iPhone and iPad users getting used to simply using their fingerprint to unlock devices, it begs the question: why aren’t more companies adding this technology to their products?
As new technologies enter bank branches, self-service kiosks are offering the convenience that consumers are seeking in the branch. Source Technologies offers the Personal Teller Machine, a self-service kiosk that allows customers to conduct 90% of transactions traditionally handled by a teller.
One of the most popular reasons for walking into a bank or credit union branch is to make a withdrawal. Of course, an ATM can fill the need for cash, but only if you want $20 bills. What if you want $100 in cash, but all in $5 denominations?
The Personal Teller Machine has 12 unique features that make it stand out among all other self-service kiosks in the industry.
Since launching our Personal Teller Machine (PTM), we’ve spent a good deal of time explaining to customers and prospects the difference between Personal Teller Machines and ATMs.