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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.
A post relating to this item from Finextra:

IBM unveils virtual teller

13 May 2008  |  11137 views  |  0
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IBM has introduced a front office kiosk for branches that enables customers to interact with a virtual bank teller.

Telly-Teller ATM from IBM or a mobile in your pocket?

15 May 2008  |  4055 views  |  0

I think the telly-teller is a great initiative to cope with unexpected in-branch demand, but if banks misuse it there could be repercussions.  I don't want sensory overload from an honour guard of beseeching screens flanking the path to the human at the branch. 

I had to think about how I feel during the branch experience and how I feel afterwards to put this in perspective. It doesn't quite give me warm fuzzies, not that the branch experience often does, but they are getting better. I grant that it could provide a better experience than a standard ATM visit - provided the customers' expectations are exceeded.

Nothing quite beats the convenience of an ATM when I want cash, but I'm not sure the telly-teller is going to beat the local human at the branch when I feel the need for one, and I sure don't want to see the teller or have them see me when I 'm just getting cash.
I suspect one of the reasons people go into a branch is because they want a human to sympathise with their issue, whether it be a banking issue directly or a personal one which is related to their transaction.

The example of assistance in filling out a form isn't the best one because I would rather see the resources directed at reducing the use of any sort of forms. All customers have form phobia - prove me wrong. Is there anyone out there who actually likes filling in forms? The internet has even made it worse and forms just mean more data whizzing round to be stolen.

I can get the same result with a phone call, so I don't think I'd bother going down to the branch just to watch a teller on TV while I talk to them.

I see problems with privacy and I'd rather talk more discreetly into my phone, away from an ATM, with bystanders left to guess who I'm talking to. 

I don't quite see premium value in the telly-teller in an ATM sized form factor.

My bank - easy, mobile + ATM's for cash + a real human I can talk with when I need them, but certainly no cards, no forms, no queues, no fraud.

Never mind telly-teller - I'll have my mobile in my pocket.

 

p.s. telly-teller© Dean Procter

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