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Source Technologies expands customer base in 2014

The company says it has signed more than 100 new customers in 2014 for its transactional kiosk and magnetic ink character recognition printing solutions.

December 11, 2014

Financial transactions management solutions provider Source Technologies has signed more than 100 new customers in 2014 for its magnetic ink character recognition printing and transactional kiosk solutions, according to a company press release.

The company's personal teller machine is its latest self-service solution. The device resides within the branch and communicates directly with teller platforms rather than the ATM platform, the company said.

This year, Source Technologies also introduced its latest self-service bill-pay solution, an automated solution that allows retailers to provide self-service bill-payment capabilities in-store.

"Digital engagement is where things are headed, but in-person selling is where things are," said Bob Meara, a senior analyst with Celent's Banking practice, in a statement. "A bank's slowness to redesign branch operating models is placing both top line sales and efficiency ratios at risk."

"The industry is rife with talk of the branch of the future, but the reality is, it is happening right now," said Source Technologies CEO Keith Hamilton. "Financial institutions must embrace modern technologies today that automate transactions historically handled by tellers, enabling these tellers to fulfill more consultative roles. Next-generation, self-service banking kiosks are the key to making the branch channel more efficient, while empowering customers to decide how they want to bank."