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Video ATMs let customers interact remotely

10:19 AM, Dec 5, 2012   |    comments
A personal teller machine at Coastal Federal Credit Union.(Photo: Coastal Federal Credit Union)
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Your bank teller could soon be coming to you through a 30-inch flat screen.

In an age where more customers, particularly Millennials, prefer to bank online, banks are looking for ways to keep branches relevant while reducing costs. Several institutions, mainly credit unions and community banks, are starting to deploy video ATMs that allow customers to interact with tellers remotely and "smart offices" that enable video conferencing with loan officers.

It's all part of an attempt to rebrand the branch experience by putting less emphasis on transactions and more on customer service, says Gene Pranger, CEO of uGenius, a technology company behind software and hardware that enables video banking.

"By deploying this type of strategy you change the dynamics of the branch," Pranger says. "Instead of being a transaction destination they become a financial answer and solution destination."

The company has more than 35 clients, and all have replaced some or all of their bank tellers with "personal teller machines," which function as regular ATMs but also have a built-in video screen that allows customers to call tellers remotely for assistance. Handsets, a chat feature and a signature pad ensure additional privacy and security.

USA Today

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