How self-service kiosks can facilitate cheque deposit process in banks
Cheques have been there for a while. The first ever cheque was issued in the Netherlands in 1659, and until today, in some countries, people still prefer to use cheques, especially for big payments.
That is why banks need a way to facilitate cheque handling in a secure and convenient manner. It is widely known that ATM machines can accept cheques besides cash transactions, however, they come with very high costs and more security requirements. This is where Cheque Deposit Kiosk (CDK) comes in, allowing bank customers to deposit cheques with simple and secure steps.
Contrary to ATMs, the cheque deposit self-service kiosks are cost-effective as they come with much lower opex and capex cost; and require less development and maintenance costs. They also come with less security requirements than ATM’s as they provide non-cash transactions only, and they can offer a number of complex banking services 24/7 in addition to cheque deposit, such as instant ATM cards issuance, chehquebook printing, account statement printing, apply for a loan and more.
Continue reading to learn more about how the cheque deposit self-service kiosks work, and why they are important for banks, and their customers.
Speed Up the Cheque Clearance Process With Cheque Deposit Kiosks
Cheque deposit self-service machines empower bank customers to deposit cheques instantly without employee intervention, eliminating the need for the customer to go to the bank, stand in long queues, fill deposit slips, and get help from a banker to deposit the cheque. Instead, the customer can simply verify his/her identity, fill in details, insert the cheque inside the machine, and the cheque will automatically be deposited into the customer account through integration with an electronic clearance system.
The cheque deposit kiosk can be installed in a self-service zone outside the bank’s branch or in public areas like shopping centers, railway stations, and other locations, giving customers the convenience to deposit cheques 24/7.
Contrary to branches, the self-service machines can be easily relocated to areas with a higher footfall or to new locations to extend the bank’s reach beyond the working hours.
Why are Cheque Deposit Kiosks Important?
The cheque deposit self-service machines offer many benefits to banks and their customers:
Convenient Customer Journey 24/7
The cheque deposit machines provide access to service round the clock, allowing customers to deposit their cheques without the need to go to the branch, while freeing the bankers’ valuable time to focus more on building customer relations.
The self-service kiosks allow depositing one cheque leaf or multiple cheques within a few minutes, providing a seamless customer experience.
Minimize Queues Inside Your Bank
Instead of waiting to be served by your service counters, you can direct customers to the cheque deposit machines. This will reduce queues, in-branch traffic, and enable efficient management of your branch capacity.
Enhance Performance
The cheque deposit kiosks can help you speed up the cheuqe clearing process, which usually takes several working days to complete. With the cheque deposit machines, customers can access your service beyond working hours, even during weekends and official holidays, resulting in faster cheque clearance and increased efficiency.
Reduce Operating Costs
You can replace a full branch with a cost-effective self-service machine. Installed in public areas, the machine reduces your operating costs, by extending your banking services without expanding your staff and branches, with the ability to get virtual assistance via video call with a remote banker.
Create Self-Service Zones to Keep Your Business Running 24/7
Banks need to invest in technology to offer seamless customer journeys and stay ahead of competition. SEDCO specializes in developing branch transformation solutions including self-service solutions, queue management system, and virtual queuing, to evolve banks to smarter branches.
SEDCO’s self-service solutions can be installed in smart self-service zones outside your bank branch or in public areas, making your services available to customers 24/7. The machines include a video call feature, enabling your customers to start a call with your remote bankers for assistance or for identity validation if needed. The self-service zone can also include ATMs and ITMs for cash services, covering all your banking needs.
The multifunction self-service kiosks from SEDCO come in many models to offer different types of banking services. With the ability to carry out biometric verification via fingerprint scanning and face recognition.
SEDCO’s branch transformation solutions are powered with an advanced BI platform, providing access to live dashboards and maps to monitor your bank’s operations in real-time and take corrective measures instantly. The system generates reports about bank’s performance per self-service kiosk, employee, counter, branch, and even region, giving you deep insights about your services, utilization, resources, and more.
Contact us to learn more about our smart self-service solutions and how we can help you achieve full digital branch transformation.
