News

New report looks into the future of ATM banking

February 23, 2012

Mercator Advisory Group has issued a report that examines new ATM capabilities and increased value for financial institutions and customers alike, the company said in a press release. According to the report, the channel will play an increasingly important role as financial institutions pursue new cost savings, enhanced customer interaction and improved processes.

Highlights of this include:

• An overview of the current state of the ATM channel and its role in making self-service banking more efficient and customer-focused. 
• The role that new-generation ATMs can play in an integrated channel strategy. 
• An analysis of the ways the ATM channel can add value to financial institutions and customers, creating a win-win situation. 
• A review of numerous capabilities available now (and in the near future) that will allow ATMs to be a foundation for an effective multi-channel strategy.

"We are at an inflection point in the evolution of the self-service ATM channel," said Ed O'Brien, director of Mercator Advisory Group's banking channels advisory service. "Conditions are forcing financial institutions to explore new ways to reduce costs, enhance the customer experience, and decrease the workload of branch personnel on basic tasks allowing them more time for customer interaction. Advances in technology offer new, different and creative ways for customers to conduct an increasing number of business transactions on their own. And new regulations provide a window of opportunity for many financial institutions to upgrade their ATM fleets and leverage expanded functionality."

For more on this topic, visit our trends/statistics research center.