Boston, August 11, 2011 – A new report from Aite Group examines the strategic, technological, and operational issues of the bank ATM channel. Based on a Q2 2011 Aite Group survey of bank ATM channel executives at 20 of the top 150 U.S. financial institutions, the report also explores channel-transforming trends relating to transactions, functionality, integration, and fraud management.
Owning and operating an ATM network is a complex endeavor that requires constant management—issues pertaining to fraud, transaction processing, accepting and dispensing of paper, accepting and dispensing of cash, upgrading of hardware and software, and, of course, compliance must all be addressed. Bank ATM executives, most recently consumed by mergers-and-acquisitions integration projects and technology challenges, must now focus on differentiating themselves at the ATM. According to the survey, 45% of bank executives view the ATM channel as a “differentiator” and are looking to introduce advanced features, such as personalization and targeted marketing and messaging, that will enhance the customer experience.
“The U.S. bank ATM channel needs to catch up to the level of technology available in the market and provided by the vendor community,” says David Albertazzi, senior analyst with Aite Group and author of this report. “Moving forward, creating a more personalized and integrated ATM experience that leads to greater channel convergence and increased customer retention will drive ATM infrastructure, hardware, and software upgrades.”
This 33-page Impact Report contains 28 figures. Clients of Aite Group's Retail Banking service can download the report by clicking on the icon to the right.