Defining a Branch Automation Ecosystem That Works for You | Part 3 of 4
This is part 3 of a 4 part series
Part 3: Defining a Branch Automation Ecosystem that works for you
Part 4: Branch Self-service Glossary
THE PERFECT SOLUTION?
Are you dreaming of a single software solution to run multiple types of machines, and to give your customers the same level of service, whether they choose to transact via self-service channels or through the teller channel?
Are you looking to automate transactions and cash handling tasks without losing referrals and sales that come from regular interactions on daily transactions?
Would you like to run the same solution in each branch - no matter what the requirements for the branch were?
E.g. in a branch where the demographics include small businesses, a high capacity deposit machine may be most applicable, but in a branch near a shopping mall, a full service assisted self-service kiosk - with human interaction where required, would be the best solution.
Running all the branch lobby machines on the same software allows the flexibility to implement the correct solution for each branch. Running hardware-agnostic software allows FI’s to choose the correct hardware solution for each branch type they have, irrespective of their hardware providers.
COMMON ISSUES FACED BY FI'S
FI’s are not always aware of what is possible with their Branch Automation Ecosystem. Hardware providers sell cookie-cutter solutions (one solution for all branch types), or multiple solutions to cater for each branch type / different requirement, but that are not integrated solutions. This leads to a waste of resources, and increased administration and support overheads, as well as providing a frustrating client experience (either a different experience between the machines or an experience that is not tailored for the client's needs).
Some ITM software, particularly software provided by legacy ATM Hardware providers, can be ATM ++ (See Glossary). These systems were not purpose-built for the lobby, but rather lobby functionality was added to existing ATM software.
Branch Automation Ecosystems should work as the branch does, for example Balancing at the End of Day should be automatically completed. CTR should be triggered when a customer transacts above a certain level - whether within the branch or the lobby -or a combination of both.
A well-made Branch Automation Ecosystem that uses a Mix & Match Approach to ensure the best possible short and long-term solution.
There are different types of automated solutions (ATM to ASK) to weave into your Branch Automation Ecosystem. This is easily achieved by mix-and-matching hardware vendors that run a single software agnostic solution.
Any machine can host any software because it is the installed software that will determine the purpose of a machine; ATM, ITM, ASK, VTM. Within each of these purposes, different types of machines can provide different functionalities.
To give a concrete example about looking beyond a cookie-cutter solution, and how looking at a mix and match solution can be of benefit, we will reuse the example from the What are the Options for Each Type of Automated Machine Solution? blog, in this example, the FI have chosen the ITM solution for their Branch Automation Ecosystem.
Our example FI has 3 different branch types.
Branch A: is in a community with many small businesses locally
Branch B: is located within or beside a shopping mall
Branch C: is in a suburban location
For Branch A
The most important transaction to automate may be cash deposits for commercial clients.
For Branch B
All transactions should be automated as much as possible, and a great customer experience is the most important factor.
For Branch C
Transactions in the lobby should be automated as much as possible with over-the-shoulder assistance if required, but equally, transactions in the drive-through should also be available with remote support if required.
Three Branches and 3 different Machine types are best suited to providing the functionality required:
For Branch A
Having a high-capacity cash deposit machine that is dedicated to commercial clients.
For Branch B
Having a high-end ITM Machine with full-service capabilities.
For Branch C
In addition to having a high-end ITM Machine with a particular focus on over-the-shoulder assistance, a drive-through solution is also required.
Mix-and-Matching is done to ensure the branch is delivering a unique set of experiences across several machines, pending the requirements of a particular branch.
Having a high capacity cash deposit machine that is dedicated to commercial clients; a low capacity machine in locations that have low volumes. The mixing of machine types in your branch network may allow for more specialisation and efficiency of tasks and lesser costs overall
Not all transactions should be performed on these machines, or in every machine, consider onboarding, or instant issue card machines…. You could have machines dedicated to those actions, and not have to install that functionality on every machine.
The benefits of using a purpose-built system for the branch in your lobby include inbuilt branch-specific functionality such as balancing at End Of Day, CTR reports when cumulative transactions from any channel go over 10K, Approval mechanisms, and roles of branch staff. Additional functionality - higher limits (due to approval mechanism) more client-focused - bringing information to the branch staff at the point of contact with the customer. Automation with the human (physical) touch - not video, allowing FI’s to maintain those sales and referrals that occur from Daily Transactions currently happening within the branch.
The mix and Match of Hardware allow for reuse of existing hardware as well as ensuring that only locations that maximise the return on the most expensive hardware solutions have those solutions installed and bringing value.
Hardware Agnostic, Software Agnostic mix-and-match Solutions that offer a well-made, long-term Branch Automation Ecosystem that serves particular requirements for each Branch across your Branch Network.
Antuar has brought the Teller application to the lobby, with Balancing at End of Day, Branch Staff alerted when CTR required, Authorisation limits based on Roles, etc. all built-in as standard. The Antuar solution works on different machine types, with the hardware specifications of the machine defining what transactions are available, the same software will run on many different types of machines.
Antuar designs hardware agnostic, software solutions to fit any Retail Branch Strategy. We like coffee (and whisky) and can be found on zoom just about any day of the week. To have a coffee and conversation about your ITM strategy and learn more about Mix & Match Use Cases in play now across 3 continents, call, click or come in to us. These conversations tend to last about 45-minutes.
Software Agnostic, Hardware Agnostic Automated Solutions designed to deliver a quality Branch Automation Ecosystem
inBranch Assisted-Self Serve Kiosk - a hardware-agnostic software solution that turns any machine into an Assisted Self Serve ATM and/or ASK. This is the teller moved to the Lobby. The inBranch software allows multiple hardware options in the same ecosystem, allowing the FI to provide different services in branches that have different requirements.
Optimal Branch specific functionality:
Balancing at End Of Day
CTR reports when cumulative transactions from any channel go over 10K, Electronic Journal, Approval mechanisms, and roles of branch staff.
Higher limits (due to approval mechanism) more client-focused - bringing information to the branch staff at the point of contact with the customer. Automation with the human (physical) touch
Quick to Implement
Antuar offers a 1/2 day workshop to develop your approach to your Branch Automation Ecosystem. FI’s can use the output to define their Branch Lobby Management strategy. There is no obligation to continue with Antuar after the Workshop.
Understand what is possible, understand what the best strategy is for your FI. Implement that strategy in the way you see best.