News

Chinese banks expand footprints, hours with Avaya VTMs

March 19, 2014

An increasing number of city-based commercial banks across China are adopting video teller machines in order to provide more flexible customer service while increasing their market presence.

Hengshui Bank in Hebei Province and Jinzhong Bank in Shanxi Province have opted for ATMs with video conferencing and contact center technologies from communications provider Avaya. A news release from the company said that these VTMs provide automated 24/7 access to most transactions customers can complete in branch offices, including relatively sophisticated transactions such as credit card applications.

Hengshui Bank is installing VTMs in locations outside the city as "virtual branches" to serve rural clients. The machines function as virtual branches, and are customized to meet the needs of the rural clients. For example, customers living in the countryside around Hengshui have high demand for deposit books and CDs. Clients will be able to complete business related to these transactions on VTMs, saving a trip into the city.

Jinzhong Bank of Shanxi Province allows its clients to apply for credit cards from the VTMs. Customers simply sign and scan the application; the system sends it to back-office staff who will issue credit cards if all requirements are met.

"City-based commercial banks in China are eager to adopt new communications technologies so as to more effectively compete with their larger rivals," said John Wang, Avaya managing director for Greater China?. "The Avaya VTM solutions provide a great opportunity for them to increase market coverage without the necessity to build physical branches. At the same time, the solution provides a way for them to offer new and innovative services to their customers."