New ATMs to double up as branches

.....ATM makers are targeting new banks with their latest offering - a machine that virtually doubles up as a branch. The machine can count notes and sniff out the fake ones while accepting deposits, and use the same notes for withdrawals. The machine can perform cheque truncation - the process of settling cheque payments on the basis of cheque images. The ATM also has a virtual teller where an executive will videoconference from the bank's call centre and try and sell account holders mutual funds and insurance when customers withdraw funds. ..........

Read - TOI