In the battle of the acronyms, which typically is a tech phenomenon, Gorham Savings Bank is using a new banking technology called the interactive teller machine, which essentially is an ATM with the ability to call a remote teller and see him or her on the screen.
The company introduced the new ITM machines today, saying the ITMs combine the ATM with the personal experience of working with a teller at a branch.
“Each ITM allows us to deliver 99% of the full-branch experience using 1% of the real estate,” Chris Emmons, CEO of Gorham Savings Bank, said in a statement. The teller can remotely control the ITM and all of its functions, and can cash checks to the penny. There is a two-way camera and a touch screen for customer interaction.
The company is operating the ITMs at two locations: Munjoy Hill in Portland and Kennebunk. It plans to set up more, including one in Gorham in two months.
Gorham said that Forrester Research predicts that financial institutions worldwide will start to experiment in the next few years with ways to enhance and redefine branches.
Emmons said embracing technology is a top priority for the bank. It also has no-fee ATMs, mobile check deposit, online bill pay, PeoplePay, ApplePay and Clickswitch.
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