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-thrus, 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% 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.
2. Security Features
Don’t leave anyone’s financial information up for grabs. Banking kiosks should protect customers’ privacy just 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.
3. 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.
