Singapore Rolls Out Video ATMs So Patrons Can Chat With A Teller Live

SINGAPORE -- Equipment manufacturer GRG Banking has partnered with the financial institution POSB to offer video teller machine (VTM) services in Singapore. The technology, which is being used in Germany, Turkey and China, provides a full range of round-the-clock banking services with the option of interacting with a live teller by video streaming.

In addition to offering such standard banking services as cash withdrawals, balance inquiries and statement requests, VTMs can dispense debit cards. They function like standard touchscreen ATMs, but allow for a "face-to-face" interface with a bank employee to answer questions. To date this feature has not been incorporated into smartphone banking apps.

It still remains to be seen whether the technology will become an option in the U.S. for either bank or independent ATMs.

FACE-TO-FACE:VTMs are gaining in popularity in Asia, but have not yet arrived in the United States.