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Media Handling 2.0 - Part 1: How it can support self-service reinvention
That includes self-service ATMs, which are just as important as rapidly evolving channels like mobile and digital in our modern, omni-channel industry. Customer expectations for a high standard of service and new experiences will be just as high in the ATM channel as they are for online or mobile banking.
What's more, banks that invest in next-generation technologies for their self-service estate could gain a number of operational benefits, such as improved performance and quicker fault identification.
Introducing Media Handling 2.0
Media Handling 2.0 is a range of dispense, deposit and recycling modules from NCR that form a key part of the new SelfServ 80 range of ATMs. One of the biggest advantages of these components is that they are configurable, offering an upgrade path that will give you the flexibility to tailor your ATMs to changing customer demands.
The various functions of the Media Handling 2.0 portfolio open up a range of benefits for customers and FIs alike. By deploying an enhanced ATM deposit experience, for example, you can boost convenience for the customer and reduce cash collection costs for the business. Image processing technology can also reduce the risk of human error in the cash or check deposit process.
Media Handling 2.0 also offers an enhanced dispense function, with the S2 module providing the capacity to hold up to 2,500 notes per cassette - 17 percent more than the S1 dispenser. The range further strengthens the SelfServ 80 series with increased bunch sizes, lower-cost servicing and security additions.
The final key feature of Media Handling 2.0 is cash recycling, which is an attractive option for many banks owing to its ability to identify counterfeit currency and reduce cash-in-transit costs.
This sort of innovation in the ATM channel could support your business in its efforts to meet ongoing consumer demands for next-generation services, while maximizing availability, managing operational costs and reducing the risk of downtime and errors.
Why self-service reinvention is so important
The ATM may be 50 years old, but there's no reason why innovation and technological growth should be any slower in this channel than in any other space - mobile or digital, for example. It could even be argued that tech-driven reinvention is more important in the self-service channel than in any other, to combat cost inefficiencies for banks and to show customers just how useful modern ATMs can be.
During his keynote presentation at the recent RBR Self-Service Banking Europe event - which you can see here - Jose Resendiz, NCR's vice president and general manager of financial services, discussed the importance of FIs innovating to deliver a next-generation self-service experience. He pointed out that providing mobile-style interactions via the ATM - touchscreen capabilities, for example - can enhance the customer experience while breaking down barriers and bridging gaps between physical and digital channels.
As far as cash is concerned, there's no denying that it continues to play a critical role in the global financial system and will continue to do so for decades to come. RBR figures released in February 2017 showed that worldwide cash withdrawals rose by ten percent in 2015 to 99 billion. The most notable growth occurred in the Asia-Pacific, Middle East and Africa regions, underlining the importance of cash as a tool for combating financial inclusion and supporting growth in emerging markets. RBR forecasts suggest that global cash withdrawals will rise to 135 billion by 2021, a compound annual growth rate of five percent.
The significance of the self-service channel for FIs today is clear, and by taking full advantage of solutions such as Media Handling 2.0, your business can prepare for the future and ensure that customers are receiving the best possible experience at the ATM.