Life can be really Easy when it comes to Banking!

VTM at Singapore

Recently, Singapore’s national bank, POSB launched the country’s first-ever video conference based teller machines, where the users can directly have a word with a live teller via video chat. This minimizes the time you waste in the bank while getting your things done in no time. As of now, the system is working on a trial basis, running from 10am to 2pm on weekdays and 10am to 1pm on Saturdays for now. Soon, it plans to go round the clock.

The machine is installed at ITE College Central in Ang Mo Kio. However, the DBS bank seems to be quite confident that people will appreciate this facility. With this, it has plans to install more of the video machines across the country by the end of this year. Jeremy Soo is the MD and Head of Consumer Banking Group of Singapore.

Functions

The virtual teller machines will perform regular ATM services like 24×7 cash withdrawals and balance enquiries as well as dispensing debit cards and internet banking tokens. You can ask for bank statements directly from the VTM. For all this, the user needs to bring along a valid identification for authentication. The machines will also be able to scan fingerprints to authenticate users.

Do you think that these machines seem to be a game-changer for the banking industry? Please share your thoughts in the comments section below.

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