“Interactive Teller Machines” replace ATMs

ATM manufacturer NCR Corporation’s Jeff Dudash said banks are trying harder to make their branches more profitable. Banks and credit unions have started introducing next generation ATMs. These feature a real human face in the small screen. Instead of the usual computer, customers now meet a real bank teller through a webcam.

This system enables banks to save on staffing in individual branches. The teller performs duties in a remote location and can assist more bank clients. At the same time, customers interact with a real human being instead of the usual computer interface.

Wall Street Journal reports many big American banks are taking high-tech ATMs into account. Some J.P. Morgan Chase & Co. branches installed machines for cashing checks. Check-cashing activities at the branches fell 40 percent, which means more customers transacted at the high-tech cash machines.

A company called uGenius Technology pioneered the next generation ATMs, which essentially removed the A that stands for Automated. uGenius’s “personal teller machines” let customers transact with a real teller via webcam. Bank clients can deposit cash or checks, pay bills, transfer money between accounts, and cash checks at machines that used to have limited functionality. uGenius and ATM maker NCR partnered to manufacture “interactive tellers” that also let people open new accounts and initiate loans. These machines can service people even in places where bank branches are absent. Six banks and credit unions have signed with NCR for their “interactive teller machines.”

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