Showing posts with label ATM. Show all posts
Showing posts with label ATM. Show all posts

Thursday, 13 January 2022

ATM usage is headed the way of the payphone

The availability of ATMs may have peaked at 470,000 units scattered across the U.S. in 2019, with a fall-off since then to 462,000 in 2020 and an estimated 456,000 last year, a spokesperson for research firm Euromonitor International said in updating its report on financial cards and payments in the U.S. 

Kendrick Sands, Euromonitor’s head of Consumer Finance Research, expects that downward trend to continue.

The automated tellers are disappearing in tandem with banks closing local branches. The banking strategy pivot comes as digital banking and payment alternatives become more widespread.

Get the full story HERE

Thursday, 29 July 2021

What New ATM Transaction Types are Consumers Interested in?

Payments Journal takes a look at the data around consumer interest in new ATM transaction types.

Saturday, 16 May 2020

COVID-19 and the Payments Industry

In just a couple of months the COVID-19 virus has change the world. How we work and how we live has changed and probably will never be the same again.

Did you miss our free webinar? No problem. Watch it now - on You Tube.

In this presentation, we examine the effect that the COVID-19 pandemic is having on the Payments Industry and explore some possible future outcomes in the areas of banking, fintechs, the cashless society, mobile wallets, online shopping, customer behavior, and more.


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Thursday, 27 October 2016

Diebold Nixdorf “Extreme” ATM Concept Live at Money20/20


How consumers will interact with their money in the future is of course the whole point behind the Money20/20 conference, where companies of all kinds are demonstrating solutions to help the everyday consumer–and merchant–have a better experience with money.

This includes companies like Diebold Nixdorf, which is dedicated to forging—in its own words—“the future of connected commerce;” at Money 20/20 Diebold appears to be offering a middle ground between cash today and the cashless future with its “Extreme ATM” concept.

Wednesday, 20 April 2016

Which Banking Channel Do Consumers Want More?

From The Financial Brand -

This study exposes the mounting tension between old and new delivery channels: traditional branches vs. digital self-service. Are consumers really ready to ditch bricks for clicks?

Consumers today still crave one-to-one attention from their banking providers, and have a strong preference for in-person assistance when making major financial decisions such as first-home mortgages. That’s according to a study from TimeTrade.

In their “State of Retail Banking 2016 – Consumer Survey,” research findings reveal that all ages — but particularly younger generations — say they value the option to visit an actual, physical branch. Both Millennials and Gen Z express a more intense preference for in-person discussions than other generational segments. When it comes to important financial issues, they are among the most willing to visit a bank or credit union branch for advice.

banking_channel_preference


The TimeTrade survey, which encompassed over 2,000 participants, found that nearly half of consumers look to visit a branch, and are more keen to do so when they have bigger banking questions. 43% of respondents report visiting their bank branch more than ten times a year, with the average consumer saying they visited their bank branch an average of roughly six times per year.

branch_visits_per_year

consumer_bank_branch_utilization


When visiting a branch, 78% said one of the reasons they came in person was that they required assistance from a specialist… perhaps because other digital and self-service channels failed?
( Read More: Banks Frustrate Consumers Who Want a More Personal Experience )

TimeTrade says the data indicates that in-person meetings are still a priority, especially when high-value services are involved. However, just because consumers are willing to drive to a branch doesn’t mean they will be patient when they get there. 64% of consumers say they are willing to wait less than ten minutes to be helped.

One way that banks can provide people with a simpler and more convenient service is by offering them the ability to pre-book appointments. 46% of respondents say they would like their bank to offer this option, and 65% overall are receptive to the idea.

Despite industry buzz, consumers seem — for the most part — indifferent about café-style branches, with the majority of respondents in the TimeTrade study saying it has no influence on their decision of where they bank. They couldn’t care less about coffee and wifi, so they say.

branch_appointment_scheduling

banking_channel_service_preferences


Consumers are also reluctant to embrace a fully-automated branch model. When banking consumers were asked how they felt about branches with no tellers and automated transactions, more than half said they would prefer the option of being able to talk to a teller. Still… there are quite a few consumers who seem more than willing to consider going branchless.

tellerless_automated_branches


Respondents in the study also expressed apprehension about automation occurring more generally in the banking industry, overwhelmingly saying that — when there’s a need — they would prefer face-to-face assistance from actual people rather than from options like online/remote tellers.

Gary Ambrosino, CEO of TimeTrade, says today’s consumers have the same “on-demand” digital expectations when banking as they do when interacting with retail, travel and other brands. “At the same time, the data tell us that people still want a face-to-face experience when making big financial commitments — not strictly automated online services — and they expect these services with minimal wait-time,” explains Ambrosino.

“In banking, personalization equals trust,” says Ambrosino. “Smart banks are positioning themselves to build trust — and get more business — by personalizing banking experiences.”

Thursday, 29 October 2015

New Diebold ATM concepts elevate mobile tech


From ATM Marketplace –

Diebold Inc. today announced the introduction of two new banking concepts that anticipate the consumer banking experience of the future with the use of cardless transactions, mobile integration, and faster, more convenient access, according to a company press release. The new concepts are debuting this week at Money20/20 in Las Vegas.

Diebold's screenless, self-service Irving ATM dispenses cash without requiring a card — or for that matter, a PIN pad, card reader or screen, the release said. Citi is testing the Irving concept at its innovation lab in New York, the release said.”

Read more>> 



Tuesday, 20 October 2015

How much ATM bombings costs SA banks


From Business Tech –

“ATM bombings have cost local banks at least R40 million rand so far in 2015.

This is according to EWN, citing the South African Bank Risk Information Center (Sabric).

Sabric CEO, Kalyani Pillay told EWN that, while ATM bombings have declined 27%, the company has seen an “increase in advanced methods used by criminals to carry out the robberies”.

The South African Police Service released crime statistics for 2015, last month, showing that bank robbery was down 19.0%, while robbery of cash in transit was down 17.9%.

Rand Daily Mail reported that overall, banks lost about R100-million more than in 2014, to R300-million in 2015 from all forms of robbery.”

Read more>>

 
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