Video teller technology to play an important role in transformed branch
Teller Automation and Branch Transformation 2017, a new report from RBR, shows that banks in a number of countries are turning to terminals that offer remote video transactions as part of their branch transformation strategies.
Video banking has proved popular in China, where many banks have installed terminals offering remote video transactions. The devices were first installed in 2011 by China Guangfa Bank, and are now used by more than 30 banks, RBR said in a press release.
Video terminals have allowed small branches in remote locations to expand their existing services, offering transactions that previously were available only in a more traditional branch environment, RBR found.
In larger branches, remote video assistance has allowed banks to migrate a large number of transactions from teller windows to terminals such as the intelligent Teller Machine deployed by China's Bank of Communications, reducing labor costs and improving branch profitability, according to the report.
In Europe, one of the main proponents of remote video assistance is Turkey's Kuveyt Turk, with its Extreme Teller Machines. XTMs feature a touch screen and allow customers to perform standard ATM transactions while receiving assistance from a bank employee via video.
These locations are marketed as mini-branches and have given the bank the opportunity to establish a presence in areas where opening a traditional branch would be too expensive, RBR said.
"Banks across the world are constantly on the lookout for ways to improve branch efficiency without compromising customer experience," said Daniel Dawson, who led the RBR study, in a press release. "Customers see branches as an important part of their banking relationship, and video banking helps banks offer existing, and in some cases new services, more cost-effectively."