Many FIs today are strategically looking to move more teller transactions to self-service, while consumers are looking for that modernized, digital experience when using banking tech. But for those FIs with an older ATM estate, technology and budget constraints can hinder making this shift. ATM as a Service helps alleviate the expense, giving FIs the opportunity to modernize their ATMs, offering that intuitive customer experience while also being able to deliver a broader set of transactions.
Opting for an “as a service,” model shifts the focus on spend to a focus on the business, meaning FIs can invest capital in more innovative projects. This means they can modernize their estate and accelerate migration of more transactions onto the ATM—all with a renewed agility that will allow for quicker adaptation of new innovations in the future. On top of that, risk is continuously managed through strictly applied governance of an ATM estate, providing peace of mind for branch managers and enabling FIs to focus their efforts on customer experience.
For the foreseeable future, ATMs will continue to be an important part of the consumer banking experience. Even as their demands for mobile and online banking grow, they still want a convenient way to physically access financial services.
Bottom line – ATM as a Service is helping FIs to keep up with that continued consumer demand, automatically bringing the latest innovations in the self-service channel to the branch, such as smartphone pre-staging for bank transactions or contactless withdrawals.
For more insights, read our blog about how COVID-19 has influenced other ATM trends.