FIs prioritize innovation through automation with ATM-as-a-Service

ATM-as-a-Service lets FIs prioritize innovation—here’s how

So, you’ve got an idea for your self-serve channel that will enrich your customers’ experiences and set your financial institution apart from competitors. You’re understandably thrilled to implement this groundbreaking concept. Then, suddenly, you remember that your ATMs are a decade old and simply not up to the task.

We’ve established why ATM as a service (ATMaaS) is advantageous, and how the model contributes to positive business outcomes. But, continuous innovation—and the software, equipment, and expertise to support it—is also an essential part of any future-proof banking strategy. So, a solution that can evolve alongside consumer technology trends, rather than lag, is a major piece of the puzzle.

NCR’s resources along with decades of experience and expertise enable financial institutions (FIs) to focus on innovation by granting them the might of ATMaas. This arsenal allows FIs to make even the most ambitious visions a reality, all at a predictable and affordable cost.

One key challenge with the traditional ATM model is that outdated software and/or aging hardware can prevent FIs from executing their innovative ideas. But ATMaaS gives customers access to every technology resource NCR has available. 

First, with ATMaaS, modern machines come with the latest features to create an immersive and familiar experience. For example, NCR has led the charge on ATMs designed to emulate and synch with consumers’ handheld devices. That seamless connection between mobile banking and self-service elevates the experience and places FIs in an innovative class all their own.

“From touchscreens, finger pinch and zoom, and mobile authentication to pre-staging FI transactions on a mobile device, banking customers now enjoy a similar experience at the ATM that they have on their handheld devices. So, they can have a seamless transaction experience, from banking on their phone to banking at the ATM. The design of ATMs such as NCR SelfServ 80 Series is “industry leading” – being the first to mirror the design aesthetics of modern consumer electronic devices."

Second, Integration with industry-leading security features gives FIs peace of mind. Biometrics ensure customers are the only ones accessing their accounts, and NCR knows our software and hardware in and out, meaning the latest updates and protections against physical and cyber threats are guaranteed. ATMaaS equals best-possible data security.

Finally, Interactive Teller Machines (ITMs) are the most advanced self-service machines on the market, with high availability from NCR. ITMs can:

• Reduce your per-transaction expenses—from $4 with an in-person teller to below $1 for a self-service device
• Decrease drive-through transaction times by 65 percentwhile increasing customer satisfaction by more than 90 percent
• Drive revenue and foster closer relationships between staff and customers
• Deliver stand-alone, “branch-in-a-box” service without compromising quality or experience

Purchasing an ITM outright can be a huge consideration, but these innovative machines are available straight from the source to ATMaaS customers—without the upfront cost or ongoing maintenance.

NCR’s ATM experts know the industry in and out. We know the trends. We know what works. And all of that knowledge is available to help optimize and implement your innovative ideas through ATMaaS.

Scott Credit Union is a perfect example of how ATMaaS achieves business benefits across the board while leaving the door open for future innovation.

Scott’s philosophy has always been to deliver the best value for its members. As a non-profit credit union, resources often had to be used to improve other areas of the business, and as a result, their self-serve channel and ATM fleet were showing their age.

NCR’s team designed a tailored solution that would refresh 30 ATMs with modern, feature-rich functionality, all owned and maintained by NCR within a predictable as-a-service cost model. Not only was their fleet outfitted with the most innovative technology available, Scott was freed of day-to-day management and mounting long-term costs. This cutting-edge fleet will also be consistently updated and loaded with new innovations as they become available.

ATMaaS works thanks to the expertise backing it up. Flexible solutions can be applied at scale, brand image and experience are enhanced, and resources are freed up to be used in other areas of the business.

As NCR does the heavy lifting for your ATM channel, the resources needed to apply innovative ideas to other aspects of your business become available. Imagine the possibilities when your formerly necessary self-serve costs can now be put towards bolstering what you’re good at: enriching customer relationships and growing your business.

“Opting for an “as a service” model shifts the focus on spend to a focus on the business, meaning FIs can invest capital in other innovative projects. This means they can modernize their estate and accelerate the migration of more transactions onto the ATM—all with a renewed agility that will allow for quicker adaptation of new innovations in the future.”

Whatever the challenge, region, budget or scale, ATMaaS can power innovation for your financial institution. Stay tuned!

Since the pandemic began, many people around the world now have more time and fewer distractions.  This has increased productivity and revealed a shift in user behavior. Before the pandemic, we focused mostly on the UX journey and interaction with users. But since COVID-19 swept the world, this has become a somewhat invalid measure of success. In today’s changed work environment, it’s become increasingly difficult to enhance:

• Customer engagement
• Customer retention
• Customer referral

For a true consumer-grade experience, it’s essential that financial institutions focus on the journey before, during and—most importantly—after product usage. Banks have traditionally focused on fostering relationships with their customers via in-person business. Now they must ask themselves, “How can we do the same with users who digitally interact with our products and services?”

Banks thrive when their customers profit. That’s why we need to look carefully at how existing platforms build personal relationships with users and help them manage money more effectively. User success is equal to business success. This fundamental mindset transcends change and is a potent solution for unforeseeable challenges.

Nevertheless, the most important element in any customer-bank relationship is trust. When using a bank platform or application, users need to feel secure, that their needs are met and most importantly, that their financial assets are safe. Whether this is accomplished through direct human interaction, a teller machine  or a chatbot, providing an experience that users can trust is key.

Lack of an emotional, human touch definitely impacts the user experience, leading to an inevitable disconnect between users and the products and services they’re being offered. As service providers, banks need to ask:

• Are we taking the initiative to encourage customers to use our products and services?
• Are we advertising enough on our display screens to make users aware and inspire trust in the safety of our products and services?

It’s evident that when it comes to technology, some financial institutions are still nascent in their stage of digitization. Even though they have a digital presence, a seamless user experience is either non-existent or not effective.

As service providers, we need to do everything we can to ensure the tools we offer inspire trust among our customers, and to make sure our offerings are highly intuitive and packed with ease of use for all user types. Let’s improve users’ experiences so they don’t feel exploited, but rather happy to recommend our products and services to others.