Top Self-Service Kiosk Benefits for the Branch of the Future

Author: Source Technologies

What’s the Difference Between an ATM and the Personal Teller Machine?

We get this question quite often. At a high level, the difference between an ATM and the Personal Teller Machine is the variety of transactions that can be completed. As a true self-service banking kiosk, the Personal Teller Machine allows the customer to complete 80-90% of the transactions traditionally handled by a teller, without assistance.

What Does the Personal Teller Machine Offer that ATMs Do Not?

We answer this question using “Five F’s”:

  1. Footprint – At just over one square foot, the Personal Teller Machine makes the most of your retail space, which we all know is shrinking. It weighs less than 250lbs, so it is also relatively easy to ship and install – even in an existing branch – without any construction or retrofitting.
  2. Functionality – The Personal Teller Machine offers up to 13 transaction options, making it an easy choice as a self-service banking kiosk for the branch of the future. Since it integrates with a financial institution’s core platform, you can use the self-service kiosk to market to the individual customer based on CRM information.
  3. Fee Elimination – Speaking of integrating to the core platform, the financial institution avoids any additional ATM fees associated with integration on the ATM rails.
  4. Flexibility – The Personal Teller Machine’s software platform allows a financial institution’s technical team to make their own changes to screens, buttons, logos, etc. There are no additional charges or weeks-long waiting for our team to make the changes for you.
  5. Financial – The Personal Teller Machine is roughly half the cost of an ATM.

The Personal Teller Machine and the Branch of the Future

While the industry is rife with talk about “The Branch of the Future,” the truth is it is happening right now, and the main focus is changing the branch from transaction-centric to sales-and-service-centric. Financial institutions of all kinds are “right-sizing” their brick-and-mortar locations, which has involved closing, moving, re-purposing and constructing new branches with new technology such as self-service banking kiosks, and fewer staff members than ever before.

Personal Teller Machines support the Universal Banker concept in that they offer big operational improvement in the bank. If bankers are not focusing on performing routine transactions, they are free to offer better customer service, answer financial questions and increase the amount of time they spend up-selling and cross-selling.

Learn more about the benefits of our self-service kiosks by contacting our team today.