Smarter Financial Devices... The Era of Digital Bank Branches Without Staff Is Near (Comprehensive)

Financial Automation Devices Evolving
Replacing Simple Tasks Performed by Branch Employees
Digital Branches Expanding

[Asia Economy Reporter Park Sun-mi] In the digital era where banking tasks can be handled via mobile banking without visiting bank branches, financial automation machines (ATMs) are also evolving. Machines that used to only handle passbook updates, deposits, and transfers are now replacing simple tasks previously performed by branch staff, allowing bank employees to focus on providing more advanced financial services.

According to the financial sector on the 17th, KB Kookmin Bank opened a new type of automated corner called 'Digital Self Branch Plus' at its Donam-dong branch in Seoul, which enhances digital elements. Using digital devices, customers can perform not only simple deposit and transfer tasks but also various inquiries, passbook reissuance, internet banking, and more.

The digital branch is equipped with various digital devices such as the new digital ATM featuring an automatic open-close bio-authentication module and a 42-inch large monitor, a Smart Teller Machine (STM) that allows customers to handle various banking tasks including internet banking by themselves 365 days a year, and large digital signage (product promotion screens).

The newly introduced New Digital ATM is characterized by a complete redesign of the transaction screen to allow anyone, regardless of age or gender, to use the ATM easily and quickly, based on analysis of user usage patterns and psychological aspects. A KB Financial official said, "A variety of digital experience environments will be provided," adding, "The New Digital ATM is currently installed only at Digital Self Branch Plus and the first floor of KB Financial's integrated Yeouido headquarters. After testing and receiving positive feedback, there are plans to expand its deployment."

Earlier, in October last year, Kookmin Bank opened its first unmanned branch called 'Digital Self Branch' near Seoul National University of Education Station, enabling customers to handle tasks that were previously possible only at branch counters by themselves through ID scanning, palm vein bio-authentication, and video consultations. In July this year, a digital zone was established at the Nowon Comprehensive Financial Center, allowing customers to use passbooks, cards, internet banking, and more without branch staff.

Woori Bank to Open 2nd Digital Financial Branch Early Next Year Following Gangnam Station Digital Financial Branch No. 1
Shinhan Bank Preparing to Open 'Digitect Branch' Within This Month

Woori Bank is also introducing and applying digital financial branches this year. In March, Woori Bank’s Gangnam Station branch was renewed as a digital financial branch equipped with a digital zone. The deployed We-B Smart Kiosk enables handling of various banking tasks such as deposits, foreign exchange, electronic finance, cards, and loans.

While simple tasks are digitalized to be handled by machines, employees provide enhanced customer consultation services such as asset management, corporate finance, and personal credit. Woori Bank plans to convert its existing Bupyeong Financial Center into the second digital financial branch and open it early next year.

Shinhan Bank is utilizing a digilog (digital + analog) branch strategy that digitally transforms branch operations. The pilot-operated Seosomun Digilog Branch introduced video consultations for the first time in the industry, aiming to innovate the digital customer experience. The Digilog Branch is equipped with high-performance ATMs called Your Smart Lounge that support palm vein recognition and tablet consultation systems called S-TB.

By digitalizing customer guidance, document sorting, and various closings, work efficiency is improved, allowing employees to conduct broader customer consultations during document processing time. Shinhan Bank, which operates the first digital sales department responsible for non-face-to-face sales in the banking sector, plans to open a new 'Digitect Branch' within this month, enabling customers to perform the same tasks as at face-to-face branches through video consultations inside the branch.

This content was produced with the assistance of AI translation services.