Bid that bank queue good bye

                           

A bank is a human creation for man to safely store money and retrieve it at their own pleasure not forgetting other financial expertise offered. The sad news is that we’ve become enemies of our own. Your money is not safe with you anymore. The bank is our safest alternative to turn to, and so we thought. But is it the safest really?

The banking sector has and continues to embrace new technologies as times goes by. New technologies however certainly come with so many good but bad components. Just as new software provokes malicious minds to come up with a virus to affect the new software, so is the case when it comes to tech-innovations. Every innovation provokes its own ‘enemy’.Let us not focus on the bad side however, let’s look at the positive one.

Of all the innovative creations by the bank, the ATM (Automated Teller Machine) I say stands out. It has saved us from ‘long distance’ queuing which in a way I think largely discourages people from banking their money. That tells you why the new mobile banking is easily becoming a favorite for many.

An ATM is a banking platform that allows you to withdraw or deposit money let alone knowing your account status. In the past, there’s not much you’d have done with the machines, most activity was to be done over the counter. The functions of these money machines however continue to increase as time goes by.

Who would have thought a time would come when you would be able to chat with a bank teller face to face over the ATM machine? Interesting right? Well, this has been made possible.

Bank tellers can now serve their clients from ATM booths thanks to the new video technology that can be installed in the machines. With installed video monitors, banks can now serve their clients better and more interactively. This I say is another way of enhancing customer satisfaction.

Bank customers can speak to a teller if they need to carry out advanced transactions like cashing a check or making a withdrawal in specific denominations. In addition, customers can withdraw money from their account if they left home without their ATM card or simply lost it.

In places where this technology is in use already, the customer places their driver’s license on a scanner attached to the ATM. After verification of the customer’s identity though video chat, they can use the ATM as if they had their bank card.

With the adoption of the new technology, its argued that theft cases are bound to reduce. Any potential theft of money, either during a robbery or by bank employees, is simply eliminated unless someone physically attempts to open the machine.

In Kenya, this kind of technology would come in handy especially in these times when ATM theft cases have become rampant. Though banks have adopted the new electronic chip in a move to curb this, this technology should also be considered. I say it’s also time we bid the queues at the banking halls good bye don’t you think?

 

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