POSB branch banking goes round-the-clock with new Video Teller Machine

POSB branch banking goes round-the-clock with new Video Teller Machine

Singapore's POSB has begun pilot trials of a new breed of ATMs capable of conducting biometric ID scanning, video teller services and dispensing lost cards and Internet banking tokens.

The DBS banking subsidiary says the machines will be capable of providing round-the-clock branch banking services, with the option of “face-to-face” assistance from bank tellers via live-video streaming.

In addition to providing services such as balance enquiries, change of particulars and statement requests, the POSB VTMs will be also able to dispense internet banking security tokens as well as debit cards instantly.

To use the new machines, customers will need to have valid ID (such as their identity card or passport) or their ATM card for verification. POSB VTMs will also provide the option of biometric fingervein scanning for verification if required.

Jeremy Soo, managing director and head of consumer banking group, DBS, says the bank sees some 45,000 requests per month for replacement debit or ATM cards, and 7,500 requests per month for replacement internet banking tokens - mostly as a result of misplacement.

“We see the POSB Video Teller Machines as a game-changer for the industry," he says. "Customers who urgently need to have their internet banking tokens or debit cards replaced after branch banking hours, will soon be able to go to POSB VTMs to have their token or card dispensed instantly to them, after verification. And just as important, those who require assistance - whether in operating the machine or for their other banking needs - are able to access instant ‘face-to-face’ teller assistance via live-video.”

The first VTM has gone live on a limited trial basis, with the bank expecting a progressive roll-out to other sites with round-the-clock access and the full range of services by the end of the year.

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