Branch Automation Increases Operational Efficiency

Many Financial institutions are leveraging the latest technology to turn their branches back into profit centers. Our client, Altra Federal Credit Union has experienced this first-hand. Dan Schwaab, Senior Vice President of Retail Operations, says, “We have had an increase in cost efficiencies – up to $300,000 per year with the Hyosung technology.”

This technology allows most teller-based transactions to be completed on a self-service device that can reduce your FTE expense. For example, investing in 10 ITMs could reduce FTE costs by 7-10 FTEs. Plus, you can expect your ROI in less than 36 months which opens up new opportunities for your Financial Institution.

Dan says the Hyosung ITM technology at Altra has, "helped some of our employees earn a little bit more money because now they're in roles dealing with more complex transactions." Furthermore, "The cost savings is pretty significant. It gives us the ability to potentially open a new branch that maybe we would not have been able to before because the expense now is not what it used to be."

Watch how Hyosung ITMs improve efficiency in Altra's branch: