A personal teller machine at Coastal Federal Credit Union.(Photo: Coastal Federal Credit Union)
Your bank teller could soon be coming to you through a 30-inch flat screen.
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
"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."
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.