CHARLESTON, W.V.-Members can walk into WV United FCU, bypass the transaction slips, and pick up an iPad to submit electronic deposit and withdrawal requests.
The CU's branch-transaction iPad application "facilitates the in-branch experience" and will soon allow additional in-branch transactions, said Linda Bodie, "head honcho" and CEO at the $26-million credit union here.
WV United calls the innovation "iTM," for iPad Teller Machine.
"iTM redirects the conversation and the way we're doing business," suggested Bodie. "We can move away from the focus on transactions and instead focus on talking with members about our services."
This week, WV United plans to add capabilities to iTM, including loan payments and advances; account transfers; and stamp, money order and cashier check purchases, Bodie said. "We'll have a total of four screens that will allow members to take care of most transactions they do with the teller."
Instead of filling out and presenting the conventional paper transaction slip when they visit the branch, members pick up the WV United iPad, which is in a secure case with cable lock. They use their finger or a stylus to enter any number of checks or amount of cash they want to deposit or withdraw, and the application calculates the total amount of the transaction.
Paper Receipt Is Available
After the member signs on-screen and clicks "submit," the application transmits the transaction to the teller's core interface. The teller verifies the request and completes the transaction. An online or paper receipt is available to the member.
"I want members to be able to do all branch transactions from an iPad," Bodie explained. "The iPad is a complete system. You don't need a scanner, an e-signature pad or a printer."
The iPad saves paper and eliminates paper-based processes, she added. "I'm annoyed by meaningless paper like transaction slips. If you use them, you have to submit the paper form, scan it and shred it. With the iPad, we have a no-paper-at-all transaction."
Paper slips take more time to complete, she said. "And they're no fun to fill out. Now, transactions are fun to submit."
Currently, the iPad is secured at the teller station. Eventually, WV United could move the iPad to another area in the lobby-"you could queue members from the iPad and cut down on nasty teller lines."
WV United rolled out iTM three weeks ago. Members completed about 200 iPad deposits and withdrawals in the first week.
The CU designed and deployed the iTM app in one week, Bodie continued. The application transmits data through a secure connection to the CU's core server, provided by Michigan-based CU*Answers.
"We chose CU*Answers because of the openness of the system and the CUSO's collaborative nature," Bodie said. "They always take a look at our new ideas."
Transitioning to a self-service, paperless branch environment takes an "innovative spirit," Bodie said. "Banking is really a wretched experience. Anything we can do to make it better makes me happy. And my IT person always finds a way to make an idea happen."
Young or old, members "love" the iPad branch application, according to Bodie. "They 'get' the all-around concept, and they think it's easy and secure."
