Branch-in-a-Box adds VTM capability, aims to automate 90 percent of teller tasks

Mumbai, India-based Aurionpro Solutions, a provider of enterprise security and banking solutions, has expanded its Branch-in-a-Box range with a virtual teller machine.

The fully integrated self-service kiosk was designed to automate 90 percent of banking transactions at a branch, according to a press release.

"Bank Branches have a dire need to reinvent themselves as cost pressures mount and reducing transaction-based revenue forces them to downsize and become leaner," said Raj Menon, Aurionpro, EVP and head of customer experience solutions, in the release. "The VTM represents a compelling solution to this very challenge."

Menon said branches in the future will focus less on transaction-driven revenue and more on relationship-based sales, service and consultancy.

"The branch itself will get leaner, more automated with a retail-centric ambience that stimulates customer engagement," he said. "With the addition of the virtual teller machine to our Branch-in-a-Box product series, Aurionpro is well positioned to help banks drive branch transformations."

Enhanced with interactive video telephony and multimodal biometrics, the VTM helps migrate routine transactions like e-KYC, account opening, passbook printing, cash and check deposit, and personalized instant card issuance and activation.

"Consumers around the world are rapidly adopting digital interfaces for their everyday banking services," said Nirav Shah, Aurionpro chief operations officer and global head of digital innovation, in the release. "Banks have three to five years to transform and become digitally proficient or risk losing relevance in the industry. Banks that will successfully use digital technologies to create new products, automate processes, build self-serve technologies and redefine overall customer experiences will come out as winners in the industry."

Topics: ATM Innovation

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