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The ATM, something much more than cash

Startups, fintech and neobanks… the financial services sector is an increasingly competitive space, where traditional entities fight for attention and funds from the community of individuals and businesses that need these types of services. An increasingly diverse and changing community that is also affected by external circumstances such as the pandemic or the energy crisis.

Here, the role of the ATM or cashier, as a channel and point of contact to access banking services and, of course, cash, is crucial. On the one hand, it seems that his role remains in question due to the high cost of management and the security threats hanging over them. But on the other hand, and although it may seem that many users are prioritizing digital payments and reducing the use of cash, the truth is that it is experiencing an international upturn and is expected to continue to rise: according to RBR datathe annual total of cash withdrawals worldwide will increase by more than 2% by 2025.

In this context, banks and ATM managers must consider more imaginative strategies that preserve and even improve access to cash and services, while paying attention to operating costs and constantly changing consumer habits. Auriga, an international provider of technological solutions for omnichannel banking and the payment sector, and recently awarded by ATMIA (the international employers association of the ATM sector), explains what the strengths of this channel are and how to address the strategy from the entity so that the ATM once again occupies the central place that it deserves both for the industry and for users.

  1. More than cash: In these devices there is much more than a slot to insert and withdraw money. Advances in financial software and hardware make it possible to incorporate many other services, such as opening and managing accounts, paying bills or applying for mortgages.
  2. Less banked communities: Banks can use their ATM infrastructure to offer these key financial services to underbanked communities, including opening and managing accounts, paying bills or applying for mortgages.
  3. Branch Transformation: In parallel with the trend of branch closures, digital banking and branch transformation initiatives are key to improving the customer experience. For example, the integration between self-service channels (the ATM) and mobile devices can simplify the daily activities of users. The new functionality of Auriga’s WWS Mobile module, for example, allows bank customers to order an ATM withdrawal using voice commands. This conversational technology makes it easier for them to communicate directly with the teller and reduce physical contact. In this way, the interaction with the user becomes more empathetic, fast and easy, as well as guaranteeing a global vision of the information.
  4. More profitable: Multifunctional self-service devices are helping to introduce a large number of services and capabilities 24/7 at a lower cost, and still offer greater convenience to customers, improving and complementing interactions with staff.
  5. More professional and useful human advisers: Automating transactional tasks frees up time for staff to offer sales, support, and advice. As we emerge from a human contact ‘crisis’ due to the pandemic, we see that human contact continues to be valued for certain operations and can create a better experience and more personalized customer service.
  6. Group: The group of ATMs, something that was born at the beginning of this century, is now beginning to consolidate more widely. The strategy is that two or more banks decide to transfer ownership of their ATMs to a third party, an independent entity that operates that shared park. In this way, the TCO and the physical management of the devices are reduced, which can be the catalyst to renew precisely those ATMs and place them in more convenient places for the user (for example, in a more crowded area, a shopping center, a sports facility or a transport hub).
  7. Omnichannel: An ideal infrastructure based on a channel integration model will enable key banking services, authorization and exchange. A standardized technological approach that supports many more functionalities –such as videoconferencing, which can take place through online banking or in the branch with ATMs or kiosks- will achieve the real automation of the self-service branch and its integration with the rest of the digital channels.
  8. Availability, also, of personal services: We are not just talking about basic services or cash withdrawal. The 24/7 availability of complex services thanks to video banking technology can allow expert personnel in the field (such as loans or mortgages) to advise the user live, from the self-service device!

Banks can, and should, take full advantage of self-service devices, but this depends on using the most appropriate technology and IT infrastructure. The ATM can be a vehicle for transforming financial services in as revolutionary a way as they were when they emerged”, says Niccolò Garzelli, Senior Vice President of Sales at Auriga.

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