The Transformation of the ATM Channel

by Edward O'Brien 0

A recent announcement from Sussex CountyFederal Credit Union in Delaware that it has deployed newintelligent deposit ATMs would not seem noteworthy on the surface.However, it follows similar announcements, including one fromUniversity Federal Credit Union in Texas that highlights theversatility of new-generation ATMs that work seamlessly as part ofa multi-channel experience.

The traditional role of ATMs, where they are used primarily as acash dispenser or for occasional check deposits, is expanding.These credit unions are among a growing group of financialinstitutions that are developing new processes that incorporatehybrid self-service and semi-self service business models.

With these hybrid business models, customers can use thesemachines as traditional, self-service ATMs, or they can choose tointeract with on-premise customer service representatives or evenremote tellers. This provides a level of personal servicepreviously unavailable with ATMs.

In addition to offering an improved, more engaging user experienceand increased satisfaction for customers, these business modelsoffer increased cross-selling and up-selling opportunities forfinancial institutions and increased interoperability between theATM and branch channels.