WASHINGTON–Source Technologies partnered with CO-OP Financial Services during CUNA’s GAC here to display its Personal Teller Machine as a proof of concept for integration via CO-OP Connect, the integration platform powering CO-OP Shared Branching and many emerging technologies.
The company said that by integrating Source Technologies’ Personal Teller Machine into their branches, credit unions can provide members with a fast and convenient experience, while improving efficiencies within the credit union branches. Through the CO-OP Shared Branch network, members of participating credit unions can visit another credit union’s branch and conduct their business as if they were in their own home branch, the company said.
Source Technologies said its Personal Teller Machine is different than an ATM, and would reside in close proximity to the teller-line. By integrating via the CO-OP Connect platform, deployment is made much swifter for credit unions of all sizes, it said. “The Personal Teller Machine can automate nearly all transactions historically handled by tellers, including transaction authentication, multi-denomination cash accept/dispense, check processing and official check issuance,” according to the company.
It added that the Personal Teller Machine has a small footprint – one square foot – and features the latest projective capacitive touch technology screen, the same technology pioneered by Apple for the iPhone.
“Source Technologies’ Personal Teller Machine has great potential for the growing fleet of self-service devices in the CO-OP Shared Branch network,” said Craig Beach, Chief Operating Officer, CO-OP Shared Branching. “However, this has the potential to reach far beyond shared branching. Not only does this provide members with a convenient in-branch experience, but transitioning member transactions away from the teller line and to self-service also helps our credit unions reduce operational costs and ensure members receive the high quality service they need.”
“The role of the teller is changing dramatically from conducting routine transactions to handling loan inquiries, demonstrating technology and answering financial questions in a much more consultative manner,” said Keith Hamilton, CEO of Source Technologies. “As more and more financial institutions move toward the ‘universal banker’ concept, Source Technologies’ self-service solutions provide the branch a way to handle the simple transactions and meet the demands of today’s consumer. We are thrilled to be collaborating with such a forward-looking and innovative organization such as CO-OP and its member credit unions.”