The micro branch concept is enabling you to increase your footprint rapidly and with reasonable costs.
You want to have a better brand visibility? You would like to open new branches but you do not want to invest in brick-and-mortar branches? You want to open the micro branches quickly and you do not want to wait several months?
Consider a micro branch concept with the use of VTMs (Video Teller Machines).
Approximately 95% of all teller operated actions like you would perform them in a brick-and-mortar branch you can offer to your clients with a VTM. Open an account, verify the identity of the customer, print documents, scan signed documents and even issue cards instantly?
Banks want to have a greater footprint in areas where they are not yet strongly represented. A traditional brick-and-mortar is very expensive and usually needs several months until it is operational. The VTM does not need a classical branch environment to run. The price and deployment time is far less then the standard branch would require.
Banks want to be present in malls and other locations where they usually do not place a branch. Here is the VTM the ideal solution. A VTM can handle about 95% of the jobs a teller in a branch can do.
The customer has a human touch when communicating with the teller via video and they usually appreciate this, following different newspaper articles and survey results.
The teller can do cross selling because he is actively talking with the customer and present on the screen. If necessary a product specialist can join the conversation to give the customer detailed information about the product he is interested in. Here a VTM might even be better than a branch because the specialist in need can be added because he does not need to physically be present at the side of the customer.
As mentioned above the customer can be identified and sign a contract. Banks seem to like this feature.
Some possible additional locations for a VTM could be airports, metro stations, business districts and residential communities and rural areas.
If this sounds interesting to you then please do not hesitate to contact us!