or wait 15 seconds

How to achieve success with deposit automation ATMs

How to achieve success with deposit automation ATMs

In an April 26 webinar, "Deposit Automation: Steps to a Successful Implementation," sponsored by Diebold Inc., industry experts in research, consulting and banking walked attendees through steps to implementing a deposit automation ATM program — and achieving their desired results.

Marc DeCastro, research director for consumer banking at IDC Financial Insights said interest in and use of deposit automation spanned all age groups and income brackets, and that banks that implemented it did see results.

"[W]e hear from them that they do notice an increase in the number of deposits taken at that ATM. While this may not necessarily mean that consumers are depositing more money ... it certainly means that less routine transactions are being made at the teller, which equals cost-savings."

Jo Preuninger, director of Diebold Consulting, said that benefits from deposit automation ATMs could include not only expense reduction, but also the ability to drive self service, customer retention and customer acquisition. Their value, she said, depended on the effectiveness of the plan for introducing them.

"Quite candidly, these machines will work if you just plug them in, but to fully realize your return on investment, you need a clearly conceived strategy for engaging customers with this new channel to either achieve your savings or your growth," she said

Eric Carter, VP of electronic banking and operations at Laconia Savings Bank, a New Hampshire FI with $1.1 billion in assets, said his bank began installing deposit automation ATMs in 2009. Currently the machines make up 41 percent of the bank's ATM fleet, and Carter said they'd increased deposit volume "impressively."

"Image-enabled ATMs conduct almost three times as many deposits as envelope deposit ATMs," Carter said. "Since implementing this technology in 2009, deposits at ATMs with deposit automation are up 183 percent with the total amount deposited being up 112 percent."

Download the free webinar, "Deposit Automation: Steps to a Successful Implementation".

Topics: Bank / Credit Union, Branch Transformation, Cash Dispenser / Recycler / Acceptor, Deposits / Check 21, Distributors / ISO / IAD, Manufacturers, Transaction Processing

Companies: Diebold, Incorporated

Sponsored Links:

Related Content

Latest Content

Get the latest news & insights