Bank branches seem to reduce in number during the next decade as researches like the one from Jones Lang LaSalle is showing.
Besides growing use of mobile access devices to manage the daily banking business banks lack funds to maintain or open branches.
In rural areas this would mean a loss of visibility to the banks, the brand image will be damaged.
To help banks to be present nevertheless there is a new way of enlarging the functions of a classical ATM by adding typical branch functionality like document printing and signing, identification verification, scanning of contracts etc and of course beside the classical cash functions the most important factor: The personal human touch.
Customers can dialogue with the banks call center teller by using an integrated video conferencing system.
The important detail is that all these value adds are integrated into a convenient solution that is not only realized by simply adding a video system to the standard ATM but by creating a branch like desk solution where the customer can sit down and have a real consulting experience.
If the customer wants to add a feature to his existing account, change something or open a new account or closing an insurance deal – all is possible. The Video Teller Machine solution by GRGbanking which I take as a reference here, is able to print documents, scan documents, verify the identity of the customer by scanning the ID card or passport and/or by using biometric technology to scan the finger or the palm vein – according to the demand of the bank. The so created contract documents have the same value as if they would have been signed in a “real” branch.
This VTM is indeed helping the banks to have a new way of customer contact that is not only less expensive than a classical branch but also more flexible. The opening hours can be longer than usual – customers can do their banking business after their work. This is a big advantage and will help to increase the loyalty towards the bank.