Image Source: Chris Gardener
As part of the Post Office Bank Hub project, bank customers were offered automated transactions through the Glory GDB kiosk using Antuar's inBranch software.
Customers from different banks were able to deposit funds into their bank accounts. The high capacity of the GDB100 machines meant that even the small businesses could deposit their funds efficiently, and get instant credit at their bank.
The UK Post offices have been offering this type of service to their customers for a number of years. They act as an intermediary bank, managing the funds and the customer, and then pass the appropriate transactions to their member banks. This, I believe, is the first time they have automated the service, thereby providing a much more efficient way to deal with this type of customer requirement.
While the Bank Hub is only in its infancy, the potential to be able to service banks and their customers in this way can only grow.
This may very well solve the problem that banks have when they do not feel that they can financially support a full branch of their own, especially in lesser populated, smaller traffic areas. Critically, communities can still be served.
"Rochford is one of the areas which will see a collaboration between the Post Office and high street banks launched in an effort to offer communities better access to cash." - The Echo
The Bank Hub idea is a meaningful way in which branch and cash services can continue in the small and rural communities as promoted by local and government groups through https://communityaccesstocashpilots.org/ - A number of locations are now being considered as part of this initiative.
About ANTUAR
Antuar is a financial technology company focussed on branch innovation.
In today’s fast paced world, the role of the branch is evolving, and Antuar’s banking software solutions are designed to enable Financial Institutions to innovate the branch network, while reducing the overhead cost of servicing customers.
To achieve this Antuar has created a suite of banking solutions, that are hardware agnostic, and core agnostic products that cater for full service, Assisted Self Service, Self-Service, and meaningful Engagement at Point-of-Contact.
Antuar integrates with core service providers and the branch network using an agile delivery model and suite of supporting tools.
Antuar has a track record in reducing costs by up to 40% and increasing sales by up to 1 new product per household. This is done by empowering branch staff to interact with clients through banking software technology and information, while reducing and optimising manual overheads.
Antuar is a team of experienced branch people, designing branch solutions with offices in Florida, Argentina and Ireland.
Formed in 2012 by a group of branch people and technology professionals, each member of the Antuar team came over with two decades of experience; designing, implementing, and supporting bank channel systems around the world.
Since then, the Antuar team have worked with Financial Institutions to innovate the branch experience resulting in Antuar’s suite of banking solution software products actively reducing costs, and increasing customer service for clients now on three continents.
Antuar innovated the branch network for America First Credit Union in 2015, involving a complete replacement of the branch teller system in 130 branches. Automation, self-service and engagement were also part of the overall solution that
directly increased the lifetime value of their customers by 1 new product per customer, inside year one.
To explore how we might be able to support your branch transformation needs, a free 30-minute conversation, with a software demonstration if applicable, is an ideal starting point. innovate@antuar.com
