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Bank customers no longer expect the same old branches as “Banks should reinvent the branch, rather than exterminate the branch,” says Pete Redshaw, vice president at Gartner. Branch kiosks and video teller stations offer such reinvention.
Video tellers offer video-based interactive technology that allows customers to conduct transactions and banking services driven by a centrally based teller in a highly engaging real time video/audio interaction. Kiosks provide self-service functionality for branch customers that can minimize human interaction while automating retail banking tasks. Due to the convergence of consumer preference for self-service, and the reluctance of some consumers for human-to-human interaction, financial institutions are embracing these types of automated solutions.
Integration enables staff to create high-value customer interaction
The key to creating value with this technology is innovative integration with your core banking platform.
This integration should provide insight to the bank staff behind video and kiosk banking services, helping them extend customer service in a highly automated fashion. According to a Deloitte study from 2020, they found branch and call center personnel at several large retail banks eager to engage with the bank’s customers in more value-added conversations. This held true not only for branch managers, investment, and lending specialists – or other senior associates – but also for more servicing-oriented personnel, including tellers.
A successful video or kiosk integration strategy empowers your team to provide the following customer services efficiently and seamlessly:
Efficiency with a twist
Video teller and kiosk solutions are a great way to leverage your bank’s staff. A skilled video teller can manage multiple customer interactions simultaneously, extending the personal touch to a greater number of customers when compared to a traditional one-on-one in-branch setting. The key is to provide the right information to your front-line employees, such as a 360-degree view of customers that enables the video teller to immediately personalize an interaction—creating exceptional customer service with increased efficiency.
Deriving value from integration
Integration of video teller and kiosk platforms with your bank’s core technology extends the efficiency and customer service capabilities of the self-service solutions. A video-based teller performs transactions integrated with your core ecosystem that keeps customer data in sync and consistent on one system of record, such as the HORIZON Banking System.
Advantages of video teller and kiosk integration include:
- Fewer transaction errors through greater consistency
- Minimal changes to existing core systems
- The speed of development with APIs and open banking
- Increased customer service via automation
- Decreased per transaction cost
Relying on technology partner for implementation
Now more than ever, community bankers realize the difficulties of “going it alone.” As solutions like video teller and kiosk platforms extend your reach, you need a partner watching your back and able to help. Such a partner supports your technology deployments and infrastructure while being familiar with your banking applications.
Community bankers should seek technology‐enabling partners who can standardize and configure your institution’s software and hardware solutions for optimal availability, security, and performance.
Security a must
According to an article in Banking Strategies, “From the earliest days of the coronavirus outbreak, scam artists have worked to leverage the societal disruption – quarantines, service limitations, changing work situations – to steal money and information from banks and their customers.” Community banks must deliver video teller and kiosk solutions in a highly secure and reliable manner as fraudsters, scammers, and hackers continue to try and take advantage of vulnerabilities.
With the right partner, community banks can ensure integrated and secure video teller and kiosk solutions meet customers’ needs for personalized service while increasing the productivity of their retail staff and operations.