What Is a Universal Banker? The Evolution of Bank Tellers

The banking industry is undergoing a profound transformation. With advancements in technology and the widespread adoption of self-service machines, the role of a traditional bank teller is evolving into something far more dynamic and impactful—the universal banker. This shift not only redefines the way banks serve their customers, but it also opens new opportunities for bank employees to play a more engaging and valued role for their employees and more importantly - for their customers.

Banker Teller Responsibilities

The role of a bank teller has been primarily transactional. Tellers handle routine tasks such as processing deposits and withdrawals, cashing & printing checks, printing new bank cards, opening new accounts, and assisting with account inquiries. While these responsibilities are essential, these duties leave little room for personal interaction or opportunities to offer tailored financial advice.

With banks continually evolving with FinTech applications, bank teller roles are expected to drop 15% by 2032 – that’s about 53,000 positions.   

What is A Universal Banker?

Enter the universal banker—a hybrid role that blends the functions of a teller, a personal banker, and even a financial advisor. Unlike traditional tellers, universal bankers are cross-trained to handle a variety of tasks, from processing simple transactions to providing in-depth financial insights. They are equipped to assist customers with:

• Account Openings
• Loan Applications
• Discussing Investment Opportunities
• Education on Services
• Compliance Requirements

This versatility not only enriches the customer experience but also allows bank employees to grow professionally within the financial services sector.

Skills Required to Thrive as a Universal Banker

Universal bankers need a different skill set than traditional tellers. While technical proficiency and accuracy are still foundational, other qualities are now equally critical:

• Strong Communication Skills: Universal bankers must actively listen to customers, explain financial products clearly, and provide thoughtful recommendations.
  
  
• Knowledge of Financial Products: They require a thorough understanding of bank services, including loans, credit cards, investments, and insurance options, to guide customers effectively.
  
  
• Problem-Solving Ability: Universal bankers are expected to address unique customer challenges, whether that involves an issue with account security or a complex loan application process.
  
  
• Adaptability: With tasks ranging from financial planning to troubleshooting technical kiosks, versatility is essential.
  
  
• Customer-Centric Mindset: Universal bankers prioritize relationship building, aiming to earn trust and establish long-term loyalty.

Banks often assist in this transition by offering training and development programs to help tellers acquire these skills. For many employees, the ability to expand their knowledge and take on more responsibility makes this a highly rewarding career path.

Benefits of This Evolution for Employees

For banking professionals, the shift from teller to universal banker can lead to significant career growth, and growth for the bank they work at. By moving beyond repetitive tasks, universal bankers are empowered to make real contributions to customers’ financial well-being.

Additionally, as universal bankers gain expertise, they often have greater opportunities for career advancement. The skills they develop—such as advisory knowledge, customer relationship management, and sales techniques—can serve as a stepping stone to roles in wealth management, branch leadership, or corporate banking.

The transition can also enhance job satisfaction. Employees who feel valued for their expertise and who are able to assist customers in meaningful ways are often more motivated and fulfilled. 

Benefits for Customers

While this evolution benefits employees, customers stand to gain as well. The universal banker model puts personalized service at the forefront. Customers receive thoughtful guidance from knowledgeable professionals who can address a wide spectrum of their financial needs. This level of service creates a more seamless and satisfying banking experience.

Additionally, the integration of technology and human expertise ensures that customers have the best of both worlds. Self-service machines provide unmatched convenience for simple tasks, while universal bankers are there to handle more complex or sensitive transactions.

How Self-Service Can Transition Banks to Go Teller-less

So, with the universal banker model becoming more popular, how can more banks adopt it to their institutions? 

Unfortunately, until banks start giving customers more advanced self-service options, bank tellers aren't going to be able to completely transition to universal bankers.  

The types of self-service options we currently have can help, but not to the extent that we need them to. ATMs, and even ITMs (Interactive Teller Machines) both can help tellers focus on bigger tasks and customers with quick needs, but they still lack the functions that could drive banks to become completely teller-less.

With the more advanced ITMs, tellers still need to be on duty to virtually assist customers with transactions over video conferencing, which unfortunately can lead to the same issues customers already face - long waits at the teller line, and not being able to handle tasks at the speed in which their used to with FinTech payment applications. 

With the current ATM, customers still only can self-service cash/check withdrawal & deposit. They would still need assistance printing documents they may normally need a teller for. This may include access to printing cashier's checks, personal checks, bank cards, loan coupons, & more.

Assisting customers with printing these documents would still take away time from the universal banker, no matter how far removed from the teller position they are. 

ATMs & ITM machines still need an evolution beyond just cash withdrawal and deposits. This solution needs to both assist customers with common transactions and free up time for universal bankers to focus on new responsibilities.

A Broader Reflection of Banking Trends

The emergence of the universal banker reflects a broader trend in the banking industry—a shift toward a more customer-focused, technology-driven approach. Modern banks recognize that automation and human expertise are not mutually exclusive; in fact, they complement each other. By leveraging technology like more advanced self-service options to handle the routine, banks can invest more in the human elements that build trust and loyalty.

This evolution also aligns closely with changing customer expectations. Today’s consumers expect fast, convenient interactions coupled with personalized service. The universal banking model delivers exactly that, meeting the needs of tech-savvy customers while maintaining the relationship-driven ethos that sets great financial institutions apart.

Looking Ahead

The role of the universal banker is a glimpse into the future of banking. It is a role that not only meets the demands of today but also positions banks to thrive in the years to come. By blending innovation with advanced self-service gives banks a customer-first approach, which allows them to continue to adapt and succeed in an increasingly competitive landscape.

For bank employees, transitioning into this role represents an exciting opportunity for growth, learning, and meaningful contributions. For customers, it means receiving smarter, more personalized service. And for the industry as a whole, it signals a future defined by both technological efficiency and human connection.

TROY has a self-service solution with TellerCentral - a machine that can help banks transition into a customer-first banking model outside the bank, and a universal banker model inside the bank as well.

Contact us to find out more.