What's the Difference Between an ATM and the Personal Teller Machine?
This question is asked quite often. At a high level, the difference between an ATM and the Personal Teller Machine is the variety of transactions that can be completed. As a true self-service banking kiosk, the Personal Teller Machine allows the customer to complete 80-90% of the transactions traditionally handled by a teller, without assistance.
What Does the Personal Teller Machine Offer that ATMs Do Not?
This question can be answered using "Five F's":
Footprint – At just over one square foot, the PTM makes the most of your retail space, which everyone knows is shrinking. It weighs less than 250lbs, so it is also reliably easy to ship and install – even in an existing branch – without any construction or retrofitting.
Functionality – The PTM offers up to 13 transaction options, making it an easy choice as a self-service banking kiosk for the branch of the future. Since it integrates with a financial institution's core platform, you can use the self-service kiosk to market to the individual customer based on CRM information.
Fee Elimination – Speaking of integrating to the core platform, the financial institution avoids any additional ATM fees associated with integration on the ATM rails.
Flexibility – The PTM's software platform allows a financial institution's technical team to make their own changes to screens, buttons, logos, etc. There are no additional charges or week-long waiting for an outside team to make the changes for you. It is customizable and easy to use.
Financial – The PTM is roughly half the cost of an ATM, making it a wise financial decision for your financial institution.
The Personal Teller Machine and the Branch of the Future
While the industry is rife with talk about "The Branch of the Future," the truth is it is happening right now, and the main focus is changing the branch from transaction-centric to sales-and-service-centric, with the customer being at the center. Financial institutions of all kinds are "right-sizing" their brick-and-mortar locations, which has involved closing, moving, re-purposing and constructing new branches with new technology such as self-service banking kiosks, and fewer staff members than they have ever had before.
Personal Teller Machines support the Universal Banker concept in that they offer big operational improvement in the bank. If bankers are not focusing on performing routine transactions, they are free to offer better customer service, answer their customer's financial questions and increase the amount of time they spend up-selling and cross-selling.
Source by Suzi McNicholas