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.
Branch Transformation and the Teller Channel
Among the many moving parts of branch transformation, financial institutions are examining new staffing models designed to cross-train employees to handle a variety of requests, from processing a loan to helping consumers find information on high-yield savings accounts. To support these new staffing models, banks and credit unions are looking to move the more repetitive transactions away from the teller channel and onto in-branch self-service banking kiosks.
Self-Service Banking Kiosks Save Financial Institutions Time and Money
To support a true customer-centric strategy, the bank or credit union branch must present itself as a welcoming environment where a multitude of financial-related tasks can be handled with confidence and ease. In addition to conducting everyday transactions, consumers want to seek advice, ask questions and feel empowered to better manage their financial lives. Self-service banking kiosks like Source Technologies’ Personal Teller Machine enable fast transactions and eliminate the teller line. At the same time, staff are free to operate as they are needed, offering consultative services and a great customer experience.