uGenius Technology, the leading firm providing comprehensive multi-channel video banking solutions to financial institutions, today announced that Gesa Credit Union, the largest financial cooperative in Southeastern Washington, is the first financial institution in the Northwest to deploy uGenius Personal Teller Machines™ (PTMs), powered by the uGenius Video Banking System™.
Gesa, a $1.2 billion credit union, will initially deploy five PTMs at two of its branch locations in Q1 2013 to improve operations and enhance the member experience.
uGenius' Video Banking technology increases operational efficiency and productivity by giving credit union members the option to interact with a live teller through two-way video. Credit union members may conduct typical transactions through video tellers including making deposits, paying bills, transferring money, cashing checks, and more. The five uGenius PTMs will decrease branch cost and increase service efficiencies for Gesa's more than 100,000 members.
"Implementing uGenius' video banking technology is part of our continued effort to add services and products that are convenient, economical, and desirable for our growing communities," said Christina Lethlean, president and CEO of Gesa. "This technology allows our members to connect with our virtual experts who can assist them with all their transactional needs. We anticipate a significant return on our investment from the system as we increase member growth, overall deposits, and net income."
uGenius pioneered the concept of remote video banking in response to the financial services industry's need to find innovative ways to reduce costs and increase services. Through uGenius' PTMs, financial institutions are able to expand their footprints and bring traditional banking services to new and underserved neighborhoods and other high traffic areas, such as retail stores or supermarkets, without increasing overhead for employees or payroll.
"Financial institutions that have implemented our Video Banking Solution are able to increase service hours and are seeing decreased transaction times and increased membership," said Gene Pranger, CEO of uGenius. "We believe that our technology will help Gesa to differentiate itself from competitors and provide services that align with the evolving needs of its members."