Why VTM

Some pictures about the advantages of the Video Teller Machines used for Video Banking.

As you can see in the pictures attached below this text the Video Teller Machines is an innovative way to add face to face video teller functionalities with a human touch to your banking network.

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A Video Teller Machine helps your bank to reduce the tellers being physically present in the branch.

At the same time the solution helps you to prolong the opening hours of your teller assisted banking services.

Your customers will love that!

Following a research of one of the banks already using the Video Teller Machine concept most of their customers want to use the branch between 6:00PM and 8:00PM. In former times they had no luck because the branches have been closed until the next day even before 6:00PM.

Nowadays the bank has deployed the human tellers in a call center and they can serve the customers asking for help at the Video Teller Machines. This could even be a 24/7h solution. Can you imagine the possibilities?

Another very positive feedback we received it the result of a customer satisfaction survey done buy one of our bank customers to find out if their end users like the Video Teller Machines. The result of this survey has been 8.8 out of 10 points. This high score is speaking for itself.

Due to the centralized call center system architecture you can offer numerous cross selling functions to the customer. Imagine the situation that a customer of your bank asks in a branch for some health insurance package you are selling. Unfortunately you do not have an insurance specialist in that special branch. The customer would walk away. Maybe he would go to another branch after having arranged an appointment.

All in all this scenario would not be very convenient for your customer. In the worst case he would buy an insurance from one of your competitors. Using a Video Teller machine you would have been able to switch the request of your customer to an insurance specialist just by forwarding the video call to him or to add him to the existing call.

The beauty of the system is that you can serve a multitude of customer requests at a Video Teller Machine because your specialists can be added to the conversation. No need to have the precious and expensive experts physically present in all of your branches to be able to fully satisfy your customers.

Another huge advantage is the fast and easy deployment of Video teller Machines. They are of course less expensive than a classical brick-and-mortar branch. Detail you can see in one of the slides below. There are places in the world where renting space is very expensive. Think of Hong Kong, Singapore for example or the Principality of Monaco.

Reducing the monthly rental cost is an important factor in your TCO (Total Cost of Ownership) calculation. But not only less rental cost also less cost per transaction, less cost for electricity, staff, branch decoration…  Think about it.

Another field of excellence for this solution is the need of retail bank branch transformation.

In Germany for example we can observe the trend to close branches since several years now.
This is creating problems for all of the parties involved.

  • The banks themselves. They lose business, brand awareness and brand reputation.
  • The retail customers have longer ways to find a branch of their bank. In rural areas this could end in the disappearance of all of the branches of a certain bank or even worse the village would not have a single bank branch left. For elderly people this is a real horror scenario.
  • Business banking customers experience a harder and more complicated way to get fresh money for their businesses. This is slowing down the local economy. Studies clearly show that the creation of new companies is slowing down in a region with less and less bank branches.
  • Bank employees are probably losing their jobs…

The Video Teller Machines could be used to create mini branches, teller-less branches or reduce the number of tellers in a branch to reduce costs but save the branch.

Smaller banks can use them to gain footprint in such rural areas to impose themselves against the big players.

Again: Fast deployment, small budget.

It is also interesting to use a mini branch to test the waters. If the location is very good the bank could transform it in the other way: Into a brick-and-mortar branch.

As you can imagine, there are a lot of scenarios where it make sense to use a fully equipped Video Teller Machine.

Ask us for more details.