Financial institutions are sunsetting their NCR ITMs and replacing them with the more advanced Hyosung Core/Cash Recycling/Self-Service devices
The NCR “Interactive Teller Machines” (ITMs), introduced in 2014, required video teller support to engage users and complete transactions. It was essentially a remotely controlled machine. This meant the technology sat unused after hours when no tellers were available. While initially considered a novel and innovative solution, technological advancements have diminished its appeal. Consequently, many financial institutions are sunsetting their NCR ITMs and replacing them with the more advanced Hyosung Core/Cash Recycling/Self-Service devices. A lack of utilization, high support costs, and customer/member dissatisfaction mainly drove the change.
The primary differentiating factor between the NCR “Video Teller ITM” and Hyosung’s Core Integrated/Cash Recycling ITM lies in the customer’s ability to perform advanced transactions like Loan Payments, Credit Card Payments, and other core transactions without assistance. The Video Teller offering falls short of providing a self-service 24/7 option for customers. In contrast, Hyosung Innovue, recognized as a leading innovator in fintech, goes beyond the conventional video teller setup. Hyosung ITMs encourage and celebrate user independence, provide advanced core integrated technology, and facilitate seamless independent banking across a broad spectrum of transactions without the need for teller support.
The Hyosung core integration software enables customers to execute an incredible range of financial transactions.
Hyosung ITMs empower customers to choose their interaction style. Like other digital channels, they can “bank when you want to bank” instead of trying to get to the branch during teller hours—Hyosung ITMs offering cash recycling result in significantly reduced cash-in-transit replenishments. Additionally, the “assisted self-service’ machines require less human support. The core integration software enables customers to execute an incredible range of financial transactions unassisted, including those related to loans, mortgages, and other core connected accounts 24/7, 365 days/year.
The outdated setup of needing to staff a video teller for each machine is also gone. On average, Hyosung Core Integrated ITM customers have less than 5% of transactions requiring help and can support 8-15 ITMs with just 1 or 2 Video Tellers.
Hyosung has redefined what constitutes an ITM. In today’s ultra-competitive environment, financial institutions must focus on the technology that provides the best user experience.
The claim that the NCR ITM is equivalent to the technology of Hyosung’s is akin to comparing apples and oranges. Apples clearly win!
For inquiries about upgrading branch services with true ITM solutions, please get in touch with NuSource Financial today.