STRATEGIC PARTNERS
April 20, 2003
DAYTON, Ohio -- More than half of U.S. consumers with bank accounts would be more likely to make a deposit at an ATM if their bank provided an ATM receipt with a picture of all deposited checks, according to a Harris Interactive survey of U.S. adults commissioned by NCR Corporation.
NCR's "no-envelope" deposit technology, being used by Bank One and other financial institutions, prints a picture of each individual check directly on the customer's ATM receipt. The receipt also lists all cash deposited, by denomination. (See related story Improving ATM deposits)
Andrew Orent, Americas region vice president for NCR's Financial Solutions Division, said in a news release, "According to Dove Consulting, only 10 out of every 100 banking customers use an ATM today to make a deposit. We believe that is due to a lack of confidence in using the current envelope-based system. Several major banks are now verifying consumer acceptance of the imaged-based technology and their responses also support these survey results."
Bankers hope more deposits will transition to the ATM in order to provide faster customer service. According to the release, deposit imaging is considered a stepping stone for banks preparing for the "Check Clearing for the 21st Century Act," which would legalize the use of a substitute check within the check clearing system, thereby speeding the availability of funds.
Twenty-one percent of the 2,373 adults surveyed report that a lack of confidence the machine got the deposit right deterred them from making cash/check deposits at an ATM, while 11 percent said looking for or hassling with filling out a deposit envelope deters them from making cash or check deposits at an ATM.
NCR holds the ATM imaging transaction patent that drives the no-envelope deposit capability, according to the release. NCR's ImageMark technology carries the image from the ATM or point-of-sale through the bank's back-office operations. Image archiving can also allow consumers with a personal computer to perform online research concerning their deposit history.
