MT. PROSPECT, Ill.--(BUSINESS WIRE)--The rise of electronic transaction channels has transformed the banking industry, making smaller, less expensive branches a reality and sparking new opportunity for the ATM as a high-value service channel. Today’s advanced technology provides new ways to deliver a secure, enhanced customer experience, lower costs and increased revenues with ATMs.
Cummins Allison, the leading innovator and provider of check, currency and coin handling solutions, as well as ATMs, outlines the vital role that reliable, high performance ATMs play in the transformation of branch banking.
Optimizing Customer Satisfaction with Reliable ATM Technology
Financial institutions (FIs) shouldn’t view the migration of transactions to electronic channels as a threat, but rather a unique opportunity to serve a new and different group of consumers. Tapped by customers for quick and easy transactions, the ATM can be a much more robust and widely-used self-service channel. In fact, a recent survey showed just how important ATMs are, with 83% of FIs ranking them as “very” or “extremely important.”1
A well-executed ATM strategy – and investment in high-quality ATM technology – can deliver a host of benefits ranging from improved customer service and experience to lower costs, increased brand awareness and growth in product sales opportunities. Branch transformation isn’t just about the demand for ubiquitous services – while customers have embraced multichannel access, they also expect higher value from face-to-face interactions at their bank branch.2 By migrating routine transactions to ATM stations, tellers can focus singularly on delivering more personal, high-value interactions with customers.
Differentiating the ATM Experience
ATM design and technology is rapidly advancing, and it is essential for FIs to have an updated ATM fleet with the latest technology and functionality to remain competitive. Recent technological advancements in ATMs are providing capabilities that will help personalize and enrich customer interactions and deliver better service. For example, advancements like image-enabled deposits, electronic receipts for transactions, remote teller assistance for more challenging transactions, and personalization based on historical transaction preferences from CRM data all improve the quality of the ATM experience, which in turn drives brand loyalty and ultimately business growth.
ATMs are a valuable tool helping FIs affordably grow their footprint and reduce costs in the branch, and having the right ATM plan is critical to a FI’s success. To learn more about how to assess your current and future ATM technology requirements against your branch transformation goals, visit www.cumminsallison.com/atm.
1 Cummins Allison, Industry Survey: The Changing Face of
the ATM Market. 2015.
2 McKinsey and Company. The Future of U.S. Retail-Banking Distribution. August 2014
About Cummins Allison
Cummins Allison is the leading innovator and provider of check, currency and coin handling solutions, as well as full-function ATMs. Our world-class sales and service network includes hundreds of local representatives in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit www.cumminsallison.com.