By : Alastair Hogben
November 28, 2017 08:00 AM
Gone are the days when the ATM was viewed simply as a dispenser of cash. Today, 50 years on from its debut in London, the ATM can do so much more, from receiving mixed cash and check deposits to facilitating global money transfers.
The self-service channel has also remained on the frontline of innovation in financial services, with exciting developments such as contactless access for maximum consumer convenience and biometric authentication for enhanced security.
In short, the ATM is as important and relevant as it has ever been. It's therefore vital for financial institutions (FIs) to derive maximum value from their ATM network, not only as a channel for service delivery, but also as a marketing platform. This is a concept explored in this whitepaper from ATM Marketplace, which emphasizes the importance of FIs delivering a unified, consistent marketing message across channels.
The multi-channel imperative
It has long been evident that any business hoping to succeed in the modern financial services industry must be able to deliver a coherent and reliable service across multiple channels. That principle is just as applicable to customer communications as it is to core functions such as account opening and transactions.
In its Retail Banking 2020 report, PwC noted that banks must continue evolving to satisfy customers whose expectations are being routinely redefined.
"[Customers are] taking their cues from other industries that offer multi-channel access, product simplicity, seamless integration and 'segment-of-one' targeting," the professional services firm said. "They want convenience, personalization, accessibility and ease of use. They want to feel like their bank is anticipating their needs, not bombarding them with product offerings."
As the ATM Marketplace whitepaper points out, having the right ATM marketing software in place can play a crucial role in helping your business to meet these challenges.
Sending the right message
Deploying a dedicated, multi-channel marketing solution would put your organization in a stronger position to get the right messages to the right customers, at the right time. Personalized communications can be targeted at the relevant consumers via various touchpoints, from the physical (ATM, kiosk, branch) to the digital (mobile, online, email).
By tapping into existing customer relationship management systems, marketing software can empower your ATMs to engage with users based on their past financial activity or personal preferences.
Another key benefit of a focused marketing platform is that it can break down barriers between channels, ensuring that ATMs have just as accurate a view of consumer profiles as mobile and digital platforms.
What this means in practice is that the customer can express a preference or begin a process in one channel, and see that action reflected elsewhere. The flexibility, visibility and control provided by specialist marketing software is vital to achieving these results.
From a technological perspective, deploying a thin-client enterprise solution can free up your business from the inefficiency and wasted time that is so often linked to IT development projects, particularly in physical channels.
Taking all factors into account, it is becoming increasingly clear that, to deliver effective, pertinent and personalized marketing across channels, FIs must equip themselves with the right software for their needs. By doing so, your business can start to realize the full potential of the ATM as a marketing platform.