News

Video teller ATMs get face time in Time

May 18, 2012

Time magazine's apparent response to a Wall Street Journal story from earlier this week, an article about teller-line offloading technology, put the teller back square in the middle of the picture — literally. In an online post, the publication reported on video teller technology.

The article profiled the NCR/uGenius partnership that resulted in an interactive ATM venture, and noted that the next-gen ATMs seem apt to chisel out a foothold in the banking sector.

NCR spokesman Jeff Dudash told Time that since rolling out the machines in March, the company had signed deals with six FIs for installation of the machines. And Bank of America spokeswoman Tara Burke told Time that pending review of a test in four market, the bank was set for a wider rollout of video teller ATMs.

The Time article noted the 24/7 service available from many of the interactive ATMs as one of their biggest attractions, referring to a report in The Financial Brand that after one credit union installed a virtual teller system, 60 percent of its transactions took place outside of standard business hours.

For more on this topic, visit the multifunction ATMs research center.