Future of Banking – Video Teller Machine (VTM)


If you think scanners can only be used in scanning documents and photos at offices or homes, then you are behind the times.

Scanners also play an important role in the future of banking, acting as the starting point to automate the bank transactions, cut costs and create a better customer experience.  ID cards and application documents are scanned to images which are thereafter recognized and transformed into data.  Clients save the troubles of writing on paper forms and banks eliminate staff’s human errors in updating the database.  The technology adoption for transaction automation is different from country to country, though.  You probably have (or have not) seen tellers behind the counter scan your ID card and bank documents, but have you heard about or used VTM?

What is VTM indeed?

VTM is the abbreviation of Video Teller Machine or Virtual Teller Machine.  Simply put, VTM is the ATM plus video, allowing bank staff to interact with customers from remote locations.  With VTM, you are not confined to use bank services such as account opening within business hours.

In the WCIT (World Congress on Information Technology, aka Olympics of the Technology sector) event held in Taipei last week, the CTBC Bank rolled out its new conceptual  “mobile branch” FinTech services.


This VTM, allowing users to open a bank account and receive a debit card right on the event ground, drawed high traffic in this event.


You may click this link to view CTBC Ban’s VTM video, but it’s in Chinese only.  For our global blog readers who are curious with VTM, let me give you a short intro on how the VTM works.


First off, prepare two of your identification cards ready (ID card, driver license or healthcare card).  Select the service (open a new account) on the big screen of the VTM. The bank staff shows up on the video screen above and interacts with you on video calls.  (If you don’t want people standing nearby to overhear your conversation, you can use the phone on the left hand side.)

Follow the bank staff’s instruction to put your identification cards in the scanner tray.  Next, the identification cards are scanned and verified to ensure the cards are not fake, and then the scanned images are sent to the bank server via internet.  Personal data captured from your identification cards automatically populate the corresponding columns of the e-form on the big VTM screen in front of you.  All you need to do is to validate the data.

If all data are correct, the VTM will print out the form for you to sign.

Put the signed form onto the scanner tray, and then the form is automatically scanned for the bank’s archive.

Next, you are prompted to take a picture and set up your password.  The ATM debit card is made on the spot.  The account opening process on the VTM finishes with your receipt of the ATM debit card.  The entire process of opening a new account takes about 15-20 minutes.

Actually the VTM can do much more than account opening, but the services it can offer depends on the financial regulations and legislation in that country.

You don’t need to rush to the bank within bank’s operation hours and save the troubles of completing the bank forms (or “scribbling” for most of all who spend more time on tapping the touch screen of our smart phone or the keyboard of our computer than on holding a real pen to write on paper).


You may wonder how the data on your ID card can be magically transformed onto the e-Form on the CTBC Bank’s VTM screen when you simply put the cards onto the scanner try.

CTBC Bank’s VTM is integrated with Plustek SecureScan scanner technology.  The identification cards are scanned by Plustek SecureScan, and the scanned images are sent to the bank’s server for OCR (optical character recognition) and data capture.  The required data are put to the bank database.  All you need to do is to validate the data on the VTM screen.  This automated process saves you the troubles of writing on paper forms and eliminates bank staff’s human errors in keying in the database, and Plustek SecureScan is the starting point of this transaction automation.

The future of banking is pretty cool!

One Comment on “Future of Banking – Video Teller Machine (VTM)

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