Singapore's OCBC Bank will see half of its bank tellers upskilled to perform higher value-added financial services as it installs the latest ATMs and digital service kiosks at 35 of its branches by 2020.
The redeployed bank tellers will become branch digital ambassadors and service executives or perform other advisory roles, according to a media statement on Monday. Even as OCBC Bank transforms its branch operations to focus on more digital and advisory services, no tellers employed today will lose their jobs as a result and the existing network of bank branches will remain largely unchanged.
OCBC Bank has earmarked $14 million for the deployment of the new ATMs and digital service kiosks in Singapore. These new machines took OCBC Bank’s Customer Experience and E-business teams two years to design by leveraging insights from over 100 customers, including corporate banking customers who perform 60 per cent of all over-the-counter transactions at branches.
Kiosks Are Future Proof
Since the pilot launch of the new ATMs and digital service kiosks at eight OCBC Bank branches beginning in May 2018, the branches have migrated close to 10 per cent of branch over-the-counter transactions to these machines and over 35,000 transactions have been performed.
The new ATMs and digital service kiosks are «future proof», according to OCBC, and include new digital technology capabilities such as facial and fingerprint scanners for biometric authentication and signature pads, which can be activated for customers’ use in the future.
Additional Facilities by 2019
By 2019, the ATMs will be able to facilitate instant cheque encashment, enabling customers to simply scan their cash cheques at the ATM to receive the monetary value of their cheques immediately. The new ATMs will also be able to dispense up to $200,000 in cash in one transaction, in the customer’s preferred note denominations.
