What is AST full form in banking?
The AST full form in banking is Assisted Service Technology. AST in banking refers to a hybrid approach that combines innovative self-service technologies with human help to improve the client experience. This approach enables consumers to do banking transactions independently using machines or digital platforms, with the option of receiving advice or intervention from bank staff, either in person or remotely, as needed. The idea is to make the banking process faster and more effective, while still preserving a human aspect for difficult operations or customer service.
Key features of AST:
One of the primary characteristics of AST is the usage of Interactive Teller Machines, often known as Interactive ATMs. These are comparable to standard ATMs, but with additional features. In addition to typical operations like cash withdrawals and balance inquiries, ITMs enable clients to do more complex tasks such as loan applications, account opening, and account resolution.
Advantages of AST:
Assisted Service Technology not only improves operational efficiency for banks, but it also increases client happiness. Customers can save time on typical transactions by using self-service alternatives, while still receiving assistance for more sophisticated needs. This approach enables banks to balance the desire for digital innovation with the importance of retaining a human connection in customer service.
