News

Survey shows strong interest in intelligent-deposit ATMs

October 13, 2010

A survey of top financial institution executives contains good news for ATM manufacturers that want to sell intelligent-deposit ATMs and teller cash recyclers to community banks and credit unions.

Nearly 60 percent of CEOs, chief financial officers and chief operating officers of credit unions and community banks said they plan to offer ATMs that accept bulk cash and bulk check deposits, according to a survey released by Business Development International Inc. Fourteen percent of the executives said their institutions have already installed envelope-free ATMs.

Financial institution executives expressed an even stronger preference for automated safes and cash recyclers that are deployed behind bank teller stations. More than half of executives who responded to the survey indicated that their institutions installed or plan to install automated teller safes and cash recyclers.

"Clearly, executives of financial institutions see deposit automation services as an important area and an opportunity to reduce costs and better serve customers," said Russ Schoper, president of Business Development International.

The Jones Creek, Ga.-based company surveyed executives online in June, July, August and September.

Fewer than 100 responded to the questionnaire, Schoper said. He said his survey provides an industry "snapshot."