LONDON — The Banker Technology Award for New Channels Project of the Year will be presented June 8 to HSBC and Wincor Nixdorf at the 2006 awards ceremony in London. The prize rewards HSBC and Wincor for their high-tech refurbishment of HSBC's U.K. branches.
The ambitious project, which saw the installation of 470 next-generation Wincor Nixdorf cash and check deposit machines (CCDMs) and 500 self-service kiosks, has revolutionized the way the banking chain does business.
"Traditionally, the ratio of high-street bank floor-space was 20 percent front-of-house compared to 80 percent back-office processing space," said David Nibloe, head of self-service for HSBC Bank PLC. "We realized that in the modern banking environment, with telephone and Internet banking becoming ever more popular and check-based transactions less common, there was an opportunity to come up with a new model that would serve customers better and increase productivity."
The branch refurbishment has reversed the ratio — now, 80 percent of the bank's floor space is open to customers, emphasizing self-service banking. CCDMs reduce the need for cashiers to handle basic account servicing, while the kiosks offer the benefits of Internet banking in-branch.
