DEFINITION of 'Branch Automation'

Form of banking automation that connects the customer service desk in a bank office with the bank's customer records in the back office. Banking automation refers to the system of operating the banking process by highly automatic means so that human intervention is reduced to a minimum. Also referred to as platform automation.

BREAKING DOWN 'Branch Automation'

Linking the customer service desk with the customer records enables branch account officers to book new loan applications directly with the bank's loan processing system, and also permits faster look-up of customer account information to answer questions on rates, new services and so on. Branch automation in bank branches also speeds up the processing time in handling credit applications, because paperwork is reduced.

RELATED TERMS
  1. Branch Banking

    Engaging in banking activities such as accepting deposits or ...
  2. Foreign Branch Bank

    A type of foreign bank that is obligated to follow the regulations ...
  3. Branch Office

    A location, other than the main office, where business is conducted. ...
  4. International Banking Act of 1978

    Federal banking legislation that put all domestic bank branches ...
  5. Shell Branch

    A branch location of a U.S. chartered bank located outside the ...
  6. Branch Accounting

    An accounting system in which separate accounts are maintained ...
Related Articles
  1. Investing

    Bank of America Tests Automated Branches

    Bank of America offers mortgage, credit card and auto loan service through virtual channels at its new smaller branches.
  2. Personal Finance

    U.S. Banks Struggle To Reduce Branches (JPM)

    The efforts by U.S. banks to get lean by reduction in branch network are getting challenged by customers who won’t give up regular visits to the branch
  3. Investing

    What is the One Job Automation Has Eliminated in the Past 60 Years?

    Automation might not be as bad as you think: In actuality it has eliminated just one occupation in 60 years.
  4. Trading

    The Pros And Cons Of Automated Trading Systems

    Automated trading systems minimize emotions, allow for faster order entry, lead to greater consistency and resolve pilot-error problems.
  5. Tech

    Will Your Job Get Eaten by Automation?

    With the rapid growth of technology, it has been widely contested whether automation will start to replace jobs.
  6. Small Business

    What's Involved in Customer Service?

    Customer service is the part of a business tasked with enhancing customer satisfaction.
  7. Trading

    Trading Systems Coding

    Automate your trades by translating your strategy into a language your computer can implement in this hands-free approach to investing.
  8. Insights

    The 4 Biggest Chinese Banks

    Learn how the Chinese banking system is operated and managed, and get information about the top four largest banks in the country.
RELATED FAQS
  1. What is the difference between an investment and a retail bank?

    Learn the primary differences between retail banks and investment banks by examining the business activities, type of clients ... Read Answer >>
  2. How does automated work affect structural unemployment rates?

    Learn about structural unemployment, one of the main causes of structural unemployment, and how automated work increases ... Read Answer >>
  3. What are the differences between preference shares and bonds?

    Learn what information banks keep on file for their customers, and understand how this information can be used to deny an ... Read Answer >>
  4. What impact has robotic production had on profitability in the automotive sector?

    Learn more about the efficiencies and improved profitability created in automotive companies by the use of robotic technologies. ... Read Answer >>
  5. What is the average profit margin for a company in the banking sector?

    Learn what the average profit margin is for companies in the banking sector, along with other evaluation metrics often used ... Read Answer >>
  6. Is good customer service something to look for in a company in which I am considering ...

    Learn about the importance of customer service when deciding whether to invest in a stock. Good customer service can ensure ... Read Answer >>
Trading Center