Not Much It Can't Do!

Options are now available for Automatic Teller Machines that may finally ease the teller lines in banking offices.

A deposit recognition system makes it possible for an ATM to cash authorized checks with exact change.

This system can be included in new machines, or could be added to existing machines, according to ATM manufacturers. Estimates on additional cost are anywhere from $3,500 to $10,000 per machine.

Another enhancement possible is connecting an ATM with an institution's personal computer network, which will give on-line access to information from the teller machines. This would help with customer problems by enabling a service representative to reconstruct activity. It would also eliminate the possibility of paying out available funds at the teller station that had already been paid out at the ATM.

Copies of statements, or a record of activity can be made available at the ATM for customers. And, of course, they can handle mortgage payments, credit card payments, etc.

Now if we can just teach the ATM to cross-sell, explain charges, and settle problem statements for customers...

Copyright © 1990 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 1, No. 12, 12/90