The Bank's initiative of the KIOSK Banking allows customers to undertake different banking transactions without the need for visiting a Bank Branch. Kiosk Banking is basically a service offered by several banks, wherein the people do not have to actually visit the branch in order to do a variety of transactions. This is so because the customer can easily open an account in the bank and operate from any of the nearest Kiosk Banking outlet itself in a hassle-free manner. It is primarily introduced by the Govt. of India as an important concept for boosting financial inclusion, particularly in the rural areas where the customer outreach is not that good and also, the people are uneducated requiring one-on-one assistance.
Customers may open bank accounts and do all types of bank related transactions at an Banking outlet. These outlets are able to offer end to end functionalities with the process of account opening or any online transaction and there are banks who also offers online kiosk banking at ease. There are a number of advantages of having kiosk online, but these are mainly for the more educated lot to access all services at just a click. Also, the operations through these outlets are absolutely safe and reliable as they are bio-metrically secured and also, a printed acknowledgement for every transaction is given to the respective customer.
Any retailer is free to open a no-frills account in a bank for any customer by recording the fingerprint details and capturing a customer's photograph. All the details along with the other documents are then forwarded to the affiliated bank branches to conduct the further know-your-customer process. When the account is up and running, the customer is enabled to either withdraw, deposit or remit an amount of maximum Rs 20,000 each day via the internet-enabled kiosk branch.
Brand Equity of the banks (SBI's and Bank of Baroda's)
Opportunity for self-employment at ease at the doorstep itself
Increased Visibility overall
High number of Walk in customers
Good incentives in accordance with the performance
Significant remuneration figures resulting in financial freedom eventually
