Kiosk terminals as an opportunity for optimization of the costs and increasing of the quality of banking services in Republic of Macedonia
Kiosk terminals as an opportunity for optimization of the costs and increasing of the quality of banking services in Republic of Macedonia

Summary/Abstract: The development of the banking sector into the Macedonian market was especially dynamic in the past decade. Banks were continually investing into their business infrastructure with primary accent on the bank branches while their expansion strategies were mostly connected via traditional channels of interaction with clients. In the previous period although Macedonian banks started and they should continue to focus their attention into retail strategies that allow them to improve their relationship with clients using actual infrastructure into the optimized environment e.g. cost savings. Implementation of kiosk terminals present one of the possible solutions for Macedonian banks in those efforts. The implementation of kiosk terminals as banking channel provides a range of opportunities for Macedonian banks especially in the retail part of this industry. Models of kiosk terminals used in the financial industry, into their basic functions have included/incorporated most of the banking branch operating services. Although Macedonian banks should expect that the quality of banking services that are not necessary connected with face to face human interaction, via kiosk terminals would be managed into much preferable environment (e.g. Kiosk terminals provide 24 hours unlimited service while/VS bank branches (that) provide 8-10 hours uptime for services during the bank working days only).As an integral part of their business strategies, Macedonian banks should evaluate the eventual barriers connected to implementation of kiosk terminals and its influence on their business e.g. financial, ethical and legal issues. Inadequate business strategy leads to higher costs and undesirable effects on business. Every bank should create own business strategy based on its own market position and opportunities. With the optimization of daily operations of the staff in the bank branches, banks should be able to provide a higher quality of doing business for the services that are more efficient into face to face environment especially in the field of advertising. On middle to long term, it may lead to changes into the primary role of the branches from functions connected to basic bank activities into more sophisticated CRM and profit activities.

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