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Financial Institutions Make Changes to Keep up with Technology

Financial Institution ITM Technology

As technology changes to be more flexible and safely accessible, Financial Institutions are making changes, too. We have clients who are making the switch to Interactive Teller Machines (ITMs) so they can operate better under the current labor shortage and be more convenient for their members. The ITMs offer video operators that are highly skilled to efficiently help members virtually by operating from anywhere in the country. Not unlike an ATM, but with a live operator to assist the customer.

Are ITMs right for your operation?

Pros

  • Convenience – around the clock access for high traffic or rural areas
  • Cost-efficiency – reduce per transaction expense
  • Personalized experience – interactive video with trained professional to answer questions
  • Strengthening market presence potential

 Cons

  • Expensive equipment
  • Additional cost to train staff
  • Requires less staff which will decrease participation in community involvement

If the pros outweigh the cons, our construction team is ready to support this transformation. For example, we are remodeling an existing Financial Institution to replace six teller spaces with five ITMs in a rural market. The Financial Institution is gaining floor space to add a restroom and larger board room. Additionally, we are adding two ITMs to their existing drive-thru.

These changes will help the Financial Institution to better serve their members and their common needs quickly and more efficiently on their operational end. The ITMs could also provide long-term cost savings and enhance their brand for the convenience.

Contact Wolgast to discuss your options and remodel needs or about incorporating ITMs, today.

10 Advantages