Video Teller Machines can help small banks to quickly expand their footprint

GRGBanking Virtual Teller machine solution I60

Branches are still an important way for banks to win new customers.

Big banks nowadays try to cut costs by closing branches which are underperforming and by adopting a model of branch transformation to keep open the others.

They mostly invested a lot into classical brick-and -mortar branches. Some of them are not easy to abandon due to long lasting rental contracts.

Small banks can learn from the big guys to avoid to invest at the wrong place. But: Small banks need branches for their retail banking business and at the same time they simply can’t afford big investments to create a classical branch structure.

This is where the Video Teller Machine is the light at the horizon.

Little initial investment, ultra fast deployment proven way to success. Video Teller Machines can be as efficient as real human tellers for a fraction of the price of a big branch. We can only consider full function Video Teller Machines for this job. ATMs with added video conferencing systems are simply not able to provide the necessary functions to win new customers and service the existing ones in a proper way.

A new customer needs to open an account, sign a contract and get a (debit) card instantly to be attracted by the bank. The bank needs to follow the regulators rules for KYC (Know Your Customer) to avoid faked account openings.

This is a typical scenario for the GRGBanking I60 type Video teller Machine.

Banks are using it as mini branches, inside a tiny but full function teller less branch, as a vestibule branch which even can be placed inside a shopping mall, on an university campus, at a gas station, inside a hospital, inside office buildings… you name it.

If this sounds interesting to your bank than we would be more than happy to explain the possibilities by using the Video Teller Machine technology in detail to you.

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