BLM Technologies was recently featured in the Credit Union Times in the article, “ITMs & Instant-Issue Kiosks: 5 Things Credit Unions Should Know”. This article, written by Tina Orem, outlines some of the important things credit unions need to consider before implementing interactive teller machines (ITMs) and instant-issue kiosks in their branches. These considerations include:
1. You may need to retrain or move tellers.
2. You may need to rethink your budget.
3. Your marketing strategy may have to evolve.
4. Your technology concerns will evolve.
5. Things could change on a dime.
In the article, BLM’s VP of Sales, John Tauer, addresses these considerations for the Instant Issuance Mini Kiosk, manufactured by Gemalto and offered by BLM Technologies. Instant-issue kiosks, or freestanding or countertop devices that produce debit and credit cards, are often placed in branches with the primary purpose of giving members access to instantly self-issue a card. The self-service option and 24/7 accessibility allows for reduced customer friction and more satisfied customers.
In addition to improving customer satisfaction, this hardware also provides increased card-activation rates. Tauer explains that while members activate only about 40% to 60% of cards sent via the mail, activation rate for the kiosk-issued cards is 100%. So, even with a setup cost of about $12,000 and hardware costs ranging from $18,000 to $30,000 per kiosk, credit unions will see the benefit and a return on their investment if they’re issuing a lot of cards each month.
On top of increased revenue, increased security is also a benefit provided by the instant-issue kiosk with its biometrics technology. The kiosk includes a facial recognition feature and built-in fingerprint scanners that provide seamless fraud prevention with automatic and real-time ID verification.
Even though the benefits of the Mini Kiosk are apparent, Tauer advises that it is important for credit unions to look at the behavior of their customers when considering this hardware. If a credit union wants that interaction with their customers, this may not be the right device. But with the younger demographics who seek convenience over face-to-face interaction, the instant-issue kiosk is the perfect solution.
The full article can be found in the Credit Union Times.