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Cook Solutions Group

Overcome ITM deployment Time & Budget constraints

September 7, 2023

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Achieve 78% Time and Cost Reduction for ITMs: Experience Full Operation in Just 6 Months with CSG!

ITMs (Interactive Teller Machine), also known as Video or Remote Tellers, have been around for over 15 years. These new machines were created to help small banks and credit unions save money and be unique in a competitive market.

A lot has happened as the market and product matured over the years. With that process, prices and complexity around ITMs have skyrocketed! On a mission to restore the true value of ITMs, CSG has reduced the time and cost of ITMs by 78%.

With CSG's help, ITM deployment doesn’t have to be daunting. Let me show you how:

  • CSG has spent 6 years perfecting our ITM implementation process to make sure your transition is easy and seamless. This investment has simplified the use of the ITM solution for community FI's, as intended.
  • We offer server hosting for ITMs, Vidyo, Check Imaging, SQL, and remote ITM server hosting. Our skilled Professional Services team handles it all. Plus Customized x9.37 content, XML Check Data File Transmission, Automated daily Check Imaging process, resulting in reduced FTE and increased efficiency.
  • CSG offers wholesale pricing for hardware and software subscriptions. They provide volume discounts for multiple orders. CSG is one of the leading dealers in North America.
  • Custom Marketing Screens – In-house marketing solutions allow for a more cost effective and quicker time to market.
  • Remote Service Maintenance and Security Patching/Encryption – Keeping ITMs up and running is more important than anything else. Having remote connection to allow for support and maintenance is a no brainer. CSG’s RemoteView software is uniquely positioned to get the job done without added need for servers and IT distraction.

CSG is an independent ITM Deployer who has been saving FI's time and money for the last 6 years.

CSG offers various services to assist community banks, including training, hosting, marketing screens, hardware pricing, software programs, and check imaging solutions. We design these services to support the needs of community banks. Please visit our Professional Services or ATM | ITM pages for more details.

‍Interactive Teller Machines (ITMs) are efficient due to several key reasons that make them a valuable addition to the banking industry:

  1. Streamlined Customer Experience: ITMs offer a streamlined and efficient customer experience. With the ability to perform a wide range of transactions, customers can quickly complete tasks without waiting in long teller lines. This is especially important in today's fast-paced world, where customers expect instant results and minimal waiting times. ITMs with features like ActiveTeller automation ensure swift completion of transactions, enhancing customer satisfaction.
  2. Improved Teller Efficiency: ITMs enable a more efficient allocation of teller resources. A single teller can manage multiple ITMs through video chat assistance, reducing the need for additional staff and lowering labor costs. Video-assisted transactions through ITMs are cheaper than traditional teller-assisted transactions, usually costing around $.50 to $.70. This efficiency translates to cost savings for financial institutions while maximizing tellers' productivity.
  3. Reduced Transaction Costs: ITMs offer the advantage of significantly reducing transaction costs for financial institutions. Traditional teller interactions can be expensive, with estimates suggesting that each interaction costs around $4.50. ITM-assisted transactions are much cheaper, saving banks and credit unions a lot of money. The cost-effectiveness of ITMs makes them an attractive option for institutions seeking to optimize their operational expenses.
  4. Extended Banking Hours and Convenience: ITMs extend banking hours and provide greater convenience for customers. ITMs with live video can serve customers outside regular hours, including weekends, unlike traditional bank branches with limited operating hours. Customers can access banking services whenever they want, which makes them happier and more loyal.
  5. Enhanced Technological Innovation: ITMs showcase technological innovation, signaling that a financial institution is forward-thinking and adaptable to changing customer preferences. By incorporating advanced features like real-time video assistance, ITMs attract customers and contribute to a positive brand image. Financial institutions that embrace ITMs position themselves as industry leaders, prepared to meet the evolving needs of customers in an increasingly digital and cashless environment.
  6. Increased Market Presence and Accessibility: ITMs enable financial institutions to expand their market presence without the need for opening new physical branches. By deploying ITMs, banks can effectively serve customers in both remote and urban areas, providing access to a wide range of banking services. The ability to reach customers in locations where traditional branches might not be visible enhances a bank's accessibility and customer reach.
  7. Consistency and Standardization: ITMs offer consistent and standardized customer interactions. The centralized video team that operates ITMs ensures that best practices are shared and maintained, minimizing errors and providing a reliable customer experience. Standardized processes across ITMs contribute to efficient service delivery and enhance customer satisfaction.

In summary, Interactive Teller Machines (ITMs) are efficient due to their ability to streamline customer experiences, improve teller efficiency, reduce transaction costs, extend banking hours, drive technological innovation, increase market presence, and provide consistent and standardized services. These benefits make ITMs a valuable asset for financial institutions aiming to enhance customer satisfaction, optimize operations, and remain competitive in the evolving banking landscape.

Written by: Scott Fieber, Chief Strategy Officer