• Frainc Reid

What are the Options for Each Type of Automated Machine Solution? | Part 2 of 4

Updated: 4 days ago

... and what vendors don’t tell you about!

This is part 2 of a 4 part series.


Part 1: What's the Difference Between Video Teller, ITM, ATM, Assisted-Self Service…?

Part 2: What are the Options for Each Type of Automated Machine Solution?

Part 3: Defining a Branch Automation Ecosystem That Works for You

Part 4: Branch Self-service Glossary



The purpose of this document is to look at the options available to financial institutions when looking at their Branch Automation Ecosystems, or their ”ITM” Strategy.

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.


OPTIONS


The goal of any ITM/ASK project should be 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.


This is best illustrated with an example - in this example, the FI has 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

Branch

Description

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:

Branch

Description

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.

In certain cases, the best hardware for each branch type may be created by different hardware providers. What is certain is that different hardware solutions will have different costs associated with them i.e. a High Capacity Deposit machine would be cheaper than a high-end ITM Machine.

For the customer, the experience should be seamless.

Hardware Agnostic Software can provide a single software solution (and therefore seamless experience for the customer) that can run the full spectrum of Machines required for any Branch Automation Ecosystem.


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.



ADDITIONAL CONSIDERATIONS

When choosing to automate transactions in the branch, all of the functionality of a branch should be considered. For example, CTR should be triggered when a customer transacts above a certain daily limit. Automatic Balancing of machines at the end of the day. Even branch staff transaction authorisation limits should be considered - as these are all part of everyday banking within the Branch.


Also to be considered is how to automate transactions and cash handling tasks without losing referrals and sales that come from regular interactions on daily transactions?



For more details on the above questions see part 3: Defining a Branch Automation Ecosystem That Works for You



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