3 Things to Consider When Choosing a Bank Kiosk

Market research shows that implementing a self-service kiosk means a better customer service for patrons. Discover why.

 

Banking has changed quite a bit over the past few years, as mobile technologies rise and questions about financial security and data breaches are headline news. According to a survey completed by TD Bank, more than 50% of their customers are using online banking for normal transactions like deposits and transfers. But for more detailed banking information or financial products, people still prefer to do it the old-fashioned way and visit their local branch.

For customers who want to visit the branch for routine transactions, many institutions have myriad options for them. Full-service assistance, drive-throughs and self-service kiosks are usually available, but online banking customers may be most comfortable using the bank kiosk.

Market research shows that implementing a self-service kiosk means a better customer service for patrons. One published study found that when given the option, 89 percent of 1,000 people surveyed would “sometimes” or “always” choose a self-service kiosk over a full-service option. These kiosks are typically easy to use and engage people while they are making a purchase. In turn, stores, restaurants, airports, banks and hospitality venues can reduce their payroll, boost profits and provide a high level of customer service with less staff.

If you’re considering installing bank kiosks, consider these three things:

  1. Customer Experience: Bank kiosks can facilitate a better customer service experience through a user-friendly interface that helps reinforce your brand. Banking at the kiosk means it’s just the customer and the machine, there is no line backing up behind them. People have a few extra minutes to read about new products and services at their own pace and find something that piques their interest.

 

  1. Security features: Don’t leave anyone’s financial information up for grabs. Banking kiosks should protect your customers’ privacy as well as an actual employee, so this hardware should be equipped with extra protection including:
  • Physical privacy screen: People shouldn’t be able to see the kiosk screen unless they are standing directly in front of it. Privacy screens help protect people’s financial information from prying eyes.
  • Physical and digital keys: A banking kiosk should require two keys to access the head and base for added security so it can’t be opened by just anyone.
  • Proximity detectors: Kiosks should be equipped with special sensors that can tell when a customer is approaching or departing. If a person leaves before logging off, the kiosk will automatically end the session.

 

  1. Software security: Investing in kiosk hardware with the security options listed above is important, but don’t forget the software. Software security helps protect your customers from data breaches and fraud.
  • EMV-compliant card reader: Look for a kiosk equipped with a card reader that is EMV compliant. Merchants and institutions using non-EMV compliant devices are held responsible for fraud.
  • PCI-compliant PIN pad: PCI standards require secure processing for card transactions, so be sure to ask if your equipment is PCI compliant.
  • Core platform integration: Bank kiosks should integrate directly with the bank’s core platform so it’s like visiting a teller and more secure than stopping by the ATM.

 

Bank kiosks are the preferred method for many customers who want to take a few extra minutes to review their account balances or skip the line because they’re pressed for time. A self-service kiosk serves a very specific purpose, but kiosks used in financial institutions need enhanced security features and PCI and EMV compliance to protect their customers’ sensitive information from fraud. Bank kiosks are a great way to generate interest in new financial products, eliminate wait times and reach customers who want an omnichannel experience.

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