--- title: Various Styles of Banking Transformations description: Financial institutions are introducing a variety of concepts to transform the humble branch into a more modern, technologically advanced place of business. image: https://www.sourcetech.com/hubfs/reception-2507752_1280.jpg --- [![ST_logo_color-2](https://www.sourcetech.com/hs-fs/hubfs/ST_logo_color-2.png?width=341&height=70&name=ST_logo_color-2.png "ST_logo_color-2")](https://www.sourcetech.com/) # Various Styles of Banking Transformations Share Blog - - - ### Author: [Source Technologies](https://www.sourcetech.com/blog/author/source-technologies) Consumers in the United Kingdom were introduced to self-service banking with [the world’s first ATM](https://en.wikipedia.org/wiki/Automated_teller_machine) 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. Its impact on the way consumers conduced their banking was far-reaching, and introduced the general public to the idea of self-service banking. When it comes to bank branch transformation, however, not much has changed in the last 50 years. Until now, that is. Financial institutions are introducing a variety of branch concepts with a goal of transforming the humble branch into a more modern, technologically-advanced place of business. ## The Branch of the Future Capital One has branded their new branches [“Capital One Cafes”](http://www.chicagotribune.com/business/ct-capital-one-cafes-0714-biz-20160713-story.html), having introduced the concept in several cities across the US. The idea is that customers can get financial advice, manage their finances and even get a cup of Peet’s coffee, all while lounging in a decidedly different kind of atmosphere for a bank branch. Lounge chairs and meeting rooms are available for anyone, along with video ATMs and free wifi. ## Branch Transformation in Size With a decrease in branch traffic affecting pretty much everyone in the retail banking industry, financial institutions are introducing smaller bank branches with more self-service banking technology and fewer staff members. PNC utilizes [portable branches](https://thefinancialbrand.com/32306/pnc-bank-pop-up-branch/) that can be moved from place to place on the bed of a truck. At just 160 square feet, it’s much more economical for the institution to serve an area without building a traditional brick-and-mortar branch. Eastern Bank operates a [350-square-foot branch](https://www.highbeam.com/doc/1G1-386016043.html) at Northern Essex Community College in Lawrence, MA where students can use large touchscreens to navigate financial products and information. ## Self-Service Banking Bank of America recently introduced what it’s calling “Virtual Center”, or smaller self-service banking branches with no in-person staff present. These concept branches include an ATM and one or two videoconferencing rooms where customers can video-chat with financial specialists. Regardless of the new styles, one thing is clear: technology is playing a critical role in bank branch transformation, having evolved from the original ATM cash-dispensing machines to full-fledged self-service banking kiosks that empower customers to conduct 90% of the transactions traditionally handled by tellers. Source Technologies’ self-service kiosk for banking, known as the [Personal Teller Machine](https://www.sourcetech.com/self-service/self-service-kiosks/personal-teller-machine), has been designed for bank branch transformation projects. Our Personal Teller Machine is a self-service banking solution that allows the customer to conduct 90% of transactions traditionally handled by tellers directly at the kiosk. [Contact us today](https://www.sourcetech.com/contact-us) to learn more about Source Technologies’ Personal Teller Machine! ##### [Secure Self-Service Kiosk Solutions for Financial Institutions](https://www.sourcetech.com/blog/secure-self-service-kiosk-solutions) ##### [The Future of Check Payments: Secure Check Printing Solutions](https://www.sourcetech.com/blog/future-check-payments-check-printing-solutions) ##### OUR HEADQUARTERS 11401A Granite St Charlotte NC 28273 ##### CALL US [800.922.8501](tel:8009228501) ##### EMAIL US [sales@sourcetech.com](mailto:sales@sourcetech.com) [techsupport@sourcetech.com](mailto:techsupport@sourcetech.com) - - - - [![Customer Portal](https://no-cache.hubspot.com/cta/default/6824423/b5f4a147-2f6d-4f8c-8ec8-dabec6cd67ed.png)](https://cta-redirect.hubspot.com/cta/redirect/6824423/b5f4a147-2f6d-4f8c-8ec8-dabec6cd67ed) ©2024 Source Technologies | [Privacy Policy](https://www.sourcetech.com/privacy-policy) | [Terms & Conditions](https://www.sourcetech.com/terms-and-conditions) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Source Technologies", "url" : "https://www.sourcetech.com/blog/author/source-technologies" }, "dateModified" : "2024-01-17T22:07:42.641Z", "datePublished" : "2017-04-20T20:50:00.000Z", "headline" : "Various Styles of Banking Transformations", "image" : [ "https://www.sourcetech.com/hubfs/reception-2507752_1280.jpg" ], "mainEntityOfPage" : { "@id" : "https://www.sourcetech.com/blog/various-styles-of-banking-transformations", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.sourcetech.com/hubfs/ST_logo_color-800px.png" }, "name" : "Source Technologies" } } ```