Kiosks

The kiosk in banking terminology represents any personal banking booth that allows a user to conduct banking transactions. The advantage to the kiosk, which includes the ubiquitous ATM machine, is of course the convenience. Users can conduct their financial transactions at any time of day or night, anywhere these small machines can safely be placed.

The kiosk in recent years has become as close to a full scale bank as possible, offering greater services than ever before, including check cashing, wire transfers, and bill payment and some are even able to accept credit applications. The in-bank kiosk has traditionally been the most all-inclusive of these machines, but as retailers begin to use full-scale kiosks in their stores, the formal divisions of where a consumer can bank are being blurred. All of this benefits the consumer, of course, and stimulates great competition amongst vendors and service providers.

Retailers, the latest segment of the market to see the value of kiosks, have likewise discovered that these devices can be used not only to provide in-store financial services like bill payment, credit application and of course cash withdrawal, but can be used as branding tools, to distribute cash cards, and to retain customers on-site. Studies conclusively show that convenience is as important to consumers as price.

For those who do not have, or cannot have, a traditional bank account, the kiosk can amount to the bank itself. The more services it can provide, the more likely it is that a consumer will use it, and the more likely he or she will be to begin a formal banking arrangement with the service provider. Newer kiosks that are able to issue pre-paid debit cards to the unbanked, provide loyalty incentives and promotional coupons.

Source Technologies is a leading technology provider of today's multi-faceted transactional kiosks. The company is trusted by nine of the ten largest banks in the United States as a service provider, and continues to grow its product line to serve the consumer and vendor alike. The convenience, ease-of-use, and lowered costs of Source Technologies' kiosks are beneficial to all.