Thursday, February 4, 2016

Robert Jain: Will Touch-Screen Tellers Increase?

By Paul Martinez


Touch screens are quite common, more so than most of us realize. Video games and smartphones use them to various degrees, but what about banking? Is this field that people utilize on a routine basis able to make use of these screens as well? With the help of Robert Jain, we look into a recent story that developed, in addition to how it might be able to help banking grow and develop in the years to come.

Portland Press Herald published an article that talked about the first interactive teller machines being used by the Gorham Savings Bank. For those who do not know, these ITMs can be used by bank customers in order to take care of withdrawals, deposits and the like. This is done by a video feed featuring a teller on the other end. It's a unique development, for lack of better terms, and it shows just how far technology has come.

It's not like ITMs are anything new, though, as other locations have implemented them as well. The main reason for this - and I am sure that Robert Jain can say the same - has to do with the reduction of costs. When you're able to keep expenses down, you can run a more stable business, which means good news for all parties involved. It also maintains the importance of human interaction, even though the video feed makes matters less personal.

Did you know that you can use an ITM to withdraw money from your account without a credit or debit card? The way that this works is that these machines have separate screens, which are used to scan driver's licenses. When all of the details line up appropriately, customers can access their accounts for withdrawals. Robert Jain Credit Suisse can attest to the importance of this development, though it should be surveyed in the future.

As you can see, banking is a field that is open to growth, and it's possible that ITMs will come to your area as well. When this happens, it's easy to imagine that you'll have many more options to consider. Customers want freedom, more than anything else, which is one of the reasons why this story is so important. When people feel like they have choices, it's possible that they will be more open to doing business in the future.




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