NEWTON, Mass. - Oakes Interactive has introduced a low-cost interactive terminal designed to reduce customer service and sales expenses at financial institutions.

The terminal, known as the Video Information Center, costs $7,000 to $10,000, depending on configuration.

Financial institutions would use it to give customers on-line access to account and product information.

The terminal, which stands only 26 inches high, also can handle video conferencing. This capability would let consumers speak face-to-face with bank representatives via video.

Video conferencing capabilities at such terminals are considered useful for selling investment and loan products, which tend to be more complex than basic savings and checking accounts.

The terminal also features touch-sensitive screens, which are becoming increasingly popular with financial institutions buying self-service banking terminals.

In addition to the terminals themselves, Oakes also supplies peripherals, such as printers and credit card readers.

Oakes' client list includes BayBanks Inc., Shawmut National Corp., and Fidelity Investments.

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