Bank tellers and related clerks deal directly with clients of banks or post offices in connection with receiving, changing and paying out money, or providing mail services
​  (ILO, 2018).

RISK PROBABILITY BASED ON THE SEMINAL FREY AND OSBORNE STUDY

PROFESSIONAL GROUP CHARACTERISTICS AND SIMILAR OCCUPATIONS

Tellers, Money Collectors and Related Clerks

Tellers, money collectors and related clerks perform money-handling operations in establishments relating to banking, postal services, betting or gambling, pawning and debt collecting (ILO, 2018).

  • Bank Tellers and Related Clerks
  • Bookmakers, Croupiers and Related Gaming Workers
  • Pawnbrokers and Money-lenders
  • Debt Collectors and Related Workers
  • Post office counter clerk
  • Money changer
  • Bank teller

Background Information

The banking industry is experiencing a seismic shift of changes and these changes will definitely have an effect on employment (Recruiter, 2017)

For large financial and mortgage  companies, the improvements derived from automated processes will effectively lower errors, human bias and fraud risks and eliminate inconsistencies in processing, thereby reducing the need for human work hours (Pramuk, 2015; Futurism, 2017). 

With the help of cloud computing and secure online platforms, people can instantly check their credit scores and depending on individual data that can be easily accessed and discussed with a chatbot, an approved loan can be received immediately thus increasing customer satisfaction could rise as a result of instant pre-approval, hassle-free applications, and much faster turnaround (GO Banking Rates, 2016) .

The Bank will also have information about customer’s health status, current employment, paid taxes, or circumstances that alter his creditworthiness (Faggella, 2018).

Moreover, some of the industry’s challenges, including human bias in underwriting loans could also be centrally controlled by automated processes, thus ensuring greater accountability. 

Case Examples

Categories: Skill Level 3