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Lexington, Ky. - The new J.P.Morgan Chase Bank branch in Tates Creek Centre is among the first Chase branches in the nation to feature a new technology designed to reduce lines and save time.
The branch, opened with a Monday ribbon cutting, features live tellers as well as three self-service teller machines on its customer counters. Measuring about 14 x 18 inches and resembling vertical iPads, the technology is similar to the touch screen kiosks found in airports and hotels.
"Customer comments have been overwhelmingly positive in terms of speed and convenience," said Don Hellmann, President of Chase Lexington.
The design of the touch screen is easy to follow. It's large enough that customers have reported that they no longer need their glasses to do their banking.
Chase is installing the self-serve tellers in its banks for several reasons, according to bank officials. They will reducing waiting time for customers who are depositing or withdrawing funds, cashing checks, and doing other routine transactions. The self-serve tellers will free up employees to discuss loans, investments, and other services and products available for customers. That extra personalized service will offer customers more options and, of course, boost the bank's bottom line.
How did Lexington get to be among the first Chase banks to have the new tellers?
"We survey our clients all the time," said Hellmann, "The Kentucky-West Virginia region, including Lexington, is the number one ranked region in customer satisfaction. We have the attention of people at the top, so there was no question that Lexington would get the latest in technology."
"We had to have something here for the customers," said Patrina Pettry, the Market Manager who oversees all Chase retail branches in KY. She attributed the high customer satisfaction ranking to "the employees."
Chase chose the Tates Creek Branch to be among the first in the Midwest to have the new tellers because it was fortunate enough to be the first local branch in a new building and because it's a heavily used branch.
"We have a good mix of customers," said Brian Butler, Manager of the new branch. "We have college students, people from nearby retirement communities and from established neighborhoods."
Self-serve teller machines suggest a cost-cuttting, impersonal approach that focuses on the bank's bottom line instead of the customer. But Chase has managed to deliver technology that's both easy and fun to use and does the almost unheard of: maintain real time personal contact.
That's because the self-serve tellers are not isolated against a far wall or in the lobby. They are part of the console above the regular customer counter, close to live tellers. The new style, extra wide teller window openings allow a line of traditional banking customers to stand alongside those using the machines.
"Customers like looking up and seeing Tonya or Gail here to help with the machines," explained Pettry. "It still feels like the same branch."
The aforementioned Gail (Savoldi) has been a Chase teller for 18 years, the last 12 at Tates Creek when the branch was located within Kroger's. Savoldi said of the new tellers, "I love them!" She predicted that "after they get used to them, the customers will love them."
Regular bank tellers like Savoldi can easily handle a line of regular customers while helping people who are using the machines, even during peak times. That increased capability permits more efficient staffing and lowers average cost per transaction.
These new self-serve teller screens offer customers advantages over traditional automated teller machines (ATMs), including choices for cash withdrawals. Instead of having to accept money in $20 bills only, the customer can withdraw in exact amounts and in all denominations of bills.
ATMs have $500 limits on withdrawals, but the new machines allow customers to take out as much as $1,000. Later this year the limit will increase to $1,500.
Another feature that has proven to be popular with customers during pilot tests in other cities is the new tellers' ability to issue debit cards instantly. The customer leaves the bank with his new card instead of waiting a week or more for it to arrive by mail.
"Every time we have advances in technology it provides us with the opportunity to develop new products for customers and hire new specialists," Hellman explained. He noted that the new tellers have not replaced any real tellers and that the Tates Creek Branch will be adding a second mortgage banker.
The Tates Creek Branch is the first local Chase bank to have these self serve tellers, but it won't be the last.
"They will be in 140 locations by the end of this year," said Pettry.