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Are you reaping the data benefits from your ATMs?

By : Lisa Kellermeyer

May 22, 2018 08:00 AM

Gaining actionable insights from data has never been more important for financial institutions. With the range of available data sources expanding all the time, FIs have access to a vast range of information that could prove highly beneficial from a customer experience or efficiency perspective. However, it could all go to waste without the proper solutions and processes in place to collect and analyze that data.

 

One area where this is particularly evident is in the self-service channel. As an increasing number of transactions migrate from the branch counter to ATMs and other self-service devices, it's vital that banks have clear visibility into how their network is functioning in order to optimize performance.

 

Understanding your ATMs

 

By supporting a self-service network with a holistic device management system, such as Vision from NCR, an organization can ensure it is maintaining high standards of customer experience, while maximizing efficiency for the business.

 

This is enabled through the understanding and application of data. The right solution can help to gain numerous insights into an FI’s network, such as what version of software is operating on every ATM and whether it requires an upgrade, the volume and denominations of cash contained within each machine, and what kinds of transactions are taking place in what locations.

 

With this data at an FIs disposal, leadership can make informed decisions about key actions such as upgrading machines and making software changes to maximize security. The business will also be in a better position to make strategic choices about where to place ATMs and how to manage the distribution of cash across the network, based on typical usage, customer demand and transaction trends.

 

These methods and technologies provide universal benefits - namely a positive experience for the customer and cost efficiency for the bank.

 

Getting the best out of electronic journals

 

The electronic journals that keep a record of every transaction taking place across ATM networks are a critical resource, but much like the industry is seeing with big data, it's vital to have the right tools in place to access, understand and leverage this wealth of information. Without proper formatting and presentation, electronic journal data is difficult to understand and apply. Banks often rely on costly and inefficient manual processes to decipher this data.

 

With a dedicated electronic journal management solution, organizations can access clear and easily digestible information about ATM transactions. This becomes invaluable when banks need quick and convenient access to relevant data in order to resolve customer disputes. Being able to complete these processes with speed and efficiency is vital towards keeping customers happy.

 

Advanced tools also offer key features such as live tracking of ATM transaction activity and the ability to search electronic journals on specific data - individual customer details, for example. This helps to drive efficiency in real-time dispute resolution and transaction balancing.

 

With these sorts of technologies and methods at a banks disposal, every organization can boost availability and offer the best possible experience for the customer, but also achieve something that remains a crucial goal for financial institutions around the world - maximum cost efficiency.

Lisa Kellermeyer

Global Marketing Manager

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Lisa Kellermeyer is a Global Marketing Manager for Management Solutions, based at NCR's World Headquarters in Duluth, GA. Lisa is responsible for the marketing of NCR's Financial Device and Transaction Management portfolio.