SunTrust Bank Tests Automated Safety Deposit Boxes, Video ATMs and More

Simon Zhen

By , Staff Writer
Posted on Tue May 13, 2014

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SunTrust Bank Tests Automated Safety Deposit Boxes, Video ATMs and More

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SunTrust Bank revealed a new innovation branch in Atlanta with the purpose of testing out new branch technologies that would improve customers’ branch banking experience. The Atlanta-based bank joins a slew of other major big banks that are experimenting with new branch concepts.

“Banking preferences are certainly changing,” said Brad Dinsmore, corporate executive vice president of consumer banking and private wealth management at SunTrust, in prepared remarks. “Consumers want the option of self-service technology inside the branch.”

One of the new banking technologies at SunTrust has never been implemented by an U.S. bank. The innovation branch will test an automated safety deposit box system. Customers would access their safety deposit box through verification of their debit card, PIN and hand scan.

A typical safety deposit box requires a key from the customer and a key from a banker to unlock.

The automated safety deposit box system at the branch is built by Hamilton Safe, a major manufacturer of physical security products.

SunTrust’s innovation branch will also feature an increasingly popular ATM technology — live teller videoconferencing. A customer can choose to speak with a live remote bank teller at the ATM, who can assist with transactions such as check cashing.

The live-teller videoconferencing technology was developed by NCR Corp., a manufacturer of ATMs and provide of ATM technology. NCR also works with major banks including Bank of America and Dollar Bank on video-teller ATMs.

Other notable features to be tested at SunTrust innovation branch are a tablet bar and a large interactive touchscreen. The tablet bar will be an area where customers can use mobile, tablet or online banking through free Wi-Fi to access their accounts. The 80-inch touchscreen acts as an educational tool that will display more information about SunTrust accounts and services.

SunTrust plans to open a second innovation branch later this summer in Washington D.C. Additionally, the bank will test video-teller ATM technology on 35 other machines in various markets.

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ATMs of the Future: How Will They Change?

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