Banking kiosks and related services have become a part of everyday life. The bank does everything from checking your balance to depositing your check. In an era of developing tools that make our lives a little easier, banks also chose tools such as ATMs.
Offering ATMs simplifies money transfers and cash withdrawals, making them more popular with the average working person who has access to money on the go. However, this type of facility is out of reach of some of the societies suffering from minorities and poverty. This section mainly consists of daily wage earners who do not have access to basic services in communication with the bank.
Banking kiosk in India and what it means
In banking terms, kiosks are services introduced to meet the banking needs of the low-income sector of society by bringing common banking services closer to the region.
The kiosk gives you access to banking facilities such as check transfers, transactions, balance checks, cash deposits, and transfers. They can do all this without going to a bank branch. This benefits LIG (Low Income Group), which has access to all services without going to the bank. Since these people cannot hold a minimum amount in their bank account, the kiosk gives them the ability to maintain their bank account without worrying about it.
Kiosk Bench Component:
The kiosk is usually set up as a local store or store booth near the village. This improves reach and customer accessibility.
Banking kiosk in India has two components:
Kiosk Machine: The second part of the kiosk booth is a kiosk machine that allows users to perform transactions, check deposits, balance checks, and other banking services. It consists of a barcode scanner, cash acceptor, integrated full-page thermal printer, integrated speakers, keyboard with trackball, touch and non-touch screens, and camcorder.
Who can start the kiosk banking system?
Eligible people to request the installation of a kiosk include store owners, retailers, small business owners, and even individuals.
The eligibility criteria for kiosk banking are:
Kiosk banking procedure:
At Lipi, we believe in the power of co-creation. We believe that it is a simple yet effective way of creating solutions that help our clients’ businesses grow faster.
We constantly work with our clients to understand their ‘real’ requirements. We then use these valuable insights to create customised solutions that help increase the efficiency of our clients’ businesses.
Two examples of the power of co-creation: ‘Self-service Passbook Update Terminals’ and ‘Thermal Printers designed for Indian Railways’.
Our emphasis on co-creation not only helps us design unique products, but also leads to excellent after-sales service. Be it a confirmed response to a service call within 72 hours or the ability to fix a problem in the very first visit, our team of over 600 engineers ensures that our client’s business never comes to a halt due to a machine glitch.
Our collaborative approach isn’t limited to clients. We also work in tandem with our partners, leading international printing and automation solution brands, to bring the latest and the best to businesses across industries.
All our clients and our partners can vouch for the fact that co-creation have helped their businesses go places.
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