April 13, 2015 08:30 AM
As with all forms of self-service technology, Intelligent Deposit ATMs help financial institutions connect, interact and transact with their customers. Both cash and cheque deposits, together with payment transactions, now represent the bulk of activity that is carried out at a branch counter. Intelligent deposit ATMs can help migrate quick exchanges to the ATM and free up bank cashiers to provide superior customer service and engage new clients and sales.
There has been rapid global growth of Intelligent Deposit ATMs and recent research from Retail Banking Researchindicates that at the end of 2013, there were over 800,000 Automated Deposit ATMs deployed in 52 countries. This means that approximately 28 per cent of all ATMs globally are enabled for Intelligent Deposit. To put this growth into context, there were 152,000 more Intelligent Deposit ATMs installed in 2013 than there were in 2012. The growth of self-service technology shows how powerful it can be to improve bank operations and reduce costs, while improving the overall customer experience.
There has been record growth in the US with over 16,000 Intelligent Deposit ATMs installed in 2013. This is a key cash and cheque deposit market which now has a total install base of over 85,000 Intelligent Deposit ATMs. In the US, the convenience of performing cash and cheque deposits, 24/7 and at non-branch locations has enhanced brand preference and loyalty.
Even government ministers in the UK are working with banks and the LINK network to introduce these Intelligent ATMs where consumers will be able to deposit cash at their convenience. The Tribune reported March 18 that the UK government budget revealed that new smart ATMs are to be planned for the primary business and retail areas in cities and towns the UK.
Like most forms of technology, deposit automation advancements will continue to evolve, offering consumers more conveniences and offering financial institutions new opportunities to reduce costs, improve efficiencies, grow their business and enhance consumer experiences.
by Lynne Murray
Based in Dundee, Scotland, Lynne Murray is a SelfServ Marketing Manager at NCR's R&D Center. Lynne is responsible for the marketing of NCR's Financial hardware portfolio with a specific focus on NCR?s Intelligent Deposit ATMs.