News

Source Technologies Series-8 PTM delivers exact cash — and more

The company says its personal teller machine is capable of automating almost any transaction typically provided by tellers, including official check issuance.

June 5, 2015

Source Technologies, a provider of integrated solutions for managing financial transactions and other secure business processes, has introduced its 8-Series Personal Teller Machine.

According to a press release from the company, the device was engineered specifically for retail banking transactions, residing in the branch and communicating with the teller platform to automate transactions.

The self-service kiosk includes a side-by-side cash acceptor and cash dispenser, allowing an FI's customers to choose denominations and withdraw exact cash. In addition to cash deposit and withdrawal, the PTM is capable of automating almost any transaction typically provided by tellers, including official check issuance.

"While the branch is here to stay, it is certainly changing, so financial institutions must find a way to service digitally driven customers that demand a better experience in the branch," Source Technologies CEO Keith Hamilton said in the release. "Self-service kiosks are an integral part of these future-thinking branch designs, as they enable consumers to conduct transactions through a user-friendly, sleek design while maintaining a healthy balance between an institution’s physical and digital channels."

The new model delivers twice the capacity of the 6-Series, but is only two inches larger. The unit requires just one square foot of space — the smallest footprint in the banking self-service kiosk industry, the company said.

The Source Technologies PTM workflow is completely configurable so that an FI may determine which transactions to deliver via self-service based on its own needs.

The PTM integrates with an FI's core platform rather than its ATM platform in order to deliver targeted, personalized offers or messages to each individual customer while avoiding additional ATM fees.