Driven by consumer demand for an improved in-branch experience, marked both by convenience and high-value touchpoints, financial institutions nationwide are on the branch transformation super-highway. They are streamlining layouts, optimizing ATM offerings and rolling out new customer-facing equipment. As such, interactive teller machines (ITMs) and advanced terminals are no longer the technology of the future — they are the here and now. And there are numerous ITM options to choose from, with some a bit more "next-level" than others. We refer to this next generation as your opportunity.
What is the differentiating factor between today's technology and that next generation? Is it more features and capabilities? Better operational cost savings? An ability to empower your employees to make the branch experience more consumer-centric? It's actually all of these things, which hinge on next generation advanced terminals' or ITMs' ability to integrate with the core — namely, your FI's core software platform. You'll find such capability with Nautilus Hyosung, an advanced terminal powerhouse that's proudly distributed by its Preferred Partner, BranchServ.
Let's explore a bit more about core integration and why if you're truly interested in the best of the best ITMs for your branch, Hyosung is your only choice.
Dual Host Integration
Integration with the ATM rail remains critical for any machine, but dual integration with both the ATM rail and your core is ideal. Why? The ATM rail is there is to verify cards and pin numbers, support non-customer transactions and ensure back-up if the core is temporarily offline. The core itself manages accounting for all customer/member transactions. The connection also facilitates access to all accounts 24/7 with customizable transactions including withdrawal limits via multiple authentication options. Ultimately, the two in combination are more powerful than one in isolation. The needs of both customers and non-customers are met with equal vigilance.
Transactions are recorded in real-time
From personal and business account withdrawals to transferring cash from checking to savings, transactions come in all types and sizes with ITMs and advanced terminals. However, depending on the terminals you have in place, there may be a delay in recording them.
With core integration, there's no guesswork necessary. All transactions are recorded in real time. This means that there is no waiting around to assess accuracy, nor any double keying. We've discussed double entry in a previous article for cash recyclers, but as anyone who has been in the industry awhile well knows, double-keying requirements for any branch transaction can be inefficient at best. With direct integration to the core, transactions are recorded and tallied immediately.
Reduced reliance on video resources or call centers
Some ITMs are fully dependent on offsite assistance for video teller services. While there's no question that video support services do have their advantages, users wind up losing out on the 24 hours a day, seven days a week convenience that self-service technology is perhaps best known for. After all, call centers and customer assistance are only open during a certain window, which is typically no more than a 12-hour period at the most.
Furthermore, machines that rely exclusively on video assistance end up costing banks more per transaction overall because they don't provide consumers with the option of self-managing easier transactions. Lastly, as institutions have worked their way through the pandemic, many can attest that undue demands on call centers can be a significant drain on finances and resources, and any missteps can have a negative impact on their reputation.
With the core integration capability that Nautilus Hyosung ITMs boast, these issues are resolved. While video assistance remains an option, the emphasis is definitively on self-service first; empowering both consumers and institutions.
Given the breadth of features and functionalities of ITMs, there's a misconception that interactive teller machines are too technical or complex to bother using. All the buttons, levers and knobs can be a bit overwhelming for those who only want to check what their balance is. In some cases, ITMs really are as complicated as they look.
Next level core integrated Nautilus Hyosung truly couldn't be any simpler. Replete with wide-screen point-to-click technology, consumers will undoubtedly be impressed by the short learning curve. Both the 7800 as well as the MX8800 are highly intuitive. This is why we find that the vast majority of transactions — more than 90% — can be done without video assist.
Some contend that advanced terminals and ITMs are too impersonal and reduce the face-to-face interaction that many people enjoy about coming to the bank. But banking habits and needs have changed, as more people go to banks to obtain financial advice or take advantage of more complex services, like certain loan products.
Since the vast majority of transactions require no teller, next generation advanced terminals help to free up resources and give your employees the room they need to be more personalized and spend more time with people who need more customized, one-on-one attention. This satisfies the high-tech, high-touch demands of many consumers.
Whether you need them for drive-up, island or walk-in, core integrated ITMs designed by Nautilus Hyosung can help your facility be not just better – but the best. Contact BranchServ today with any questions or concerns.