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There’s a new technology that is changing the very nature of banking as we know it. Interactive teller machines, or ITMs, allow you to deposit, withdraw, and transfer cash like you can with regular ATMs. However, ITMs give you the ability to live video chat with a remote bank teller if you so wish. It’s the perfect crossroads between personalized service and convenience!

These machines are not just beneficial from a customer’s standpoint. Offering ITMs can also be a wildly valuable investment for bank branches. Here are some reasons why customers and banks alike should jump on the interactive teller bandwagon.

Faster Service

Do you hate standing in long lines at the bank to speak to a teller? Having ITMs will cut back on a number of people standing in line at any time. Interactive tellers have the ability to do anything that a teller in the physical branch can do. Just go to the machine and press “call”, and a friendly teller will be able to assist you with any type of transaction.

Getting in and out of the bank faster will make your customers happy. And the happier you can make your customers, the more successful your business will be. It’s a win-win!

Technology Meets Personalization

An ITM is fundamentally an enhanced ATM. The development of ATM technology was a great contribution to the banking world. An ITM plays off of this convenience by adding a personalized element to this technology. Having the option to video chat with a bank teller gives each customer a chance to have their experience tailored exactly to their needs. You can still utilize the convenience of ATM technology, but you can add a personal element if you wish.

Lost or Stolen Card? No problem.

If you lose an ATM or debit card, you can’t access money from normal ATMs. An ITM allows customers to verify their identity to a video teller if they do not have their card. Simply show the teller your license or another form of ID, and they will be able to withdraw money from your account and have it sent out of the machine. This is also a useful feature in any scenario where you need to show a second form of ID before making a transaction.

More Geographic Reach

ITMs offer a huge opportunity to banks to physically reach more customers than ever before! Much like ATMs, ITMs can be set up remotely (not attached to a branch) for customers to use whenever they need. Imagine being able to station one of your banks’ tellers in popular suburban and urban areas. This offers customers a chance to get a wider range of bank services without ever entering a branch. This type of convenience could draw in more bank customers overall.

Parke Bank understands the many benefits that ITMs impose on both banks and customers. Stop by Parke Bank branch today to learn more about our Interactive Teller Machines!