PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Your ATM Is About to Get Smarter, Faster and More Generous

Joseph Walent by Joseph Walent
May 25, 2017
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

 The future of the ATM’s role in the lives of consumers is being determined now, and financial institutions are loathe to see it go. Beyond the capital investment, routine maintenance, the ATM is able to fulfill a wider range of banking transactions in a self-service medium. According to the article from the Fiscal Times, this makes them a near literal cash machine for the FIs that operate them. The economics of maintaining a fleet of ATMs aside, the need to refresh the format must be addressed.

 

Withdrawals are stagnating as payments with debit cards, credit cards, checks and other non-cash methods have increased exponentially. A Federal Reserve study last year found that there were an estimated 144 billion U.S. non-cash payments with a value of almost $178 trillion in 2015, up almost 21 billion payments and $17 trillion since 2012.

 

Mercator Advisory Group concurs with the thrust of the article, that in order to remain relevant in the mobile banking world, creating cross-channel interaction capabilities is critical to retain the ATM as a viable consumer touchpoint for Financial Institutions. We delve further into how this interweaving of mobile banking and ATM cash access is being addressed in our recent report Mobile Cash Access 2017: Engaging Customers by Linking Digital Banking to Cash. Please let us know what you think.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

Read the full story here

Tags: Banking Channels
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    5 Ways to Protect Your Financial Institution from a Cyberattack

    5 Ways to Protect Your Financial Institution from a Cyberattack

    May 26, 2023
    traditional banks

    How Traditional Banks Can Modernize Without Risk

    May 25, 2023
    identity fraud

    Javelin’s Identity Fraud Study Highlights the Changing Nature of Fraud

    May 24, 2023
    SASE, security-as-a-service

    Security-as-a-Service Secures
    Distributed IT Models

    May 23, 2023
    mule. real-time

    Early Detection of Mule Activity Requires Real-Time Solutions

    May 22, 2023
    embedded finance, ecommerce

    How Retailers Can Enter the World of Embedded Finance Confidently 

    May 19, 2023
    cross-border

    Cross-Border Trade is a Cinch with the Right Payments Partner

    May 18, 2023
    debit

    5 Reasons Merchants See Debit As
    Top-of-Mind for In-Store Sales

    May 17, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result