Monday, August 25, 2008

New way of Banking @ ATM

Bank of America has recently rolled-out an enhanced ATM facility where customers can deposit cash and get immediate credit on their account for the same-day deposits. The ATM also includes a fake currency detector that can immediately alert about fake notes in the deposited cash.
For cheques, the ATM gives out a receipt that contains the 'scanned image' of the cheque that was deposited. On seeing the cheque image in the ATM transaction slip, the customers will be immediately assured of the deposited cheque and the exact amount. There is no need for math and fill-up deposit slips as the ATM automatically adds-up if there are multiple cheques.
Some of the benefits that are quoted:
- Paperless transaction in the deposits
- Improved Customer Experience
- Real-time security
Its interesting to see the way technology & innovation touching consumers' lives. :-).
Slowly, but steadily, innovation is making inroads into the enterprise. Looking forward to the tipping point!

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