Branch transformation. Along with cybersecurity, it’s been a predominant topic in the financial services industry over the last few years. Much like cybersecurity, it’s not something that will ever be finished. We won’t wake up one day and be safe from hackers, and we won’t wake up one day and branches will have reached their final form.
The process underway in the financial services world is more an evolution than a revolutionary transformation, and that was the message sent loud and clear at Cardtronics’ Financial Institution Roadshow held recently in Frisco, Texas.
The goal of our regional roadshows is to facilitate an environment in which financial institutions are provided a platform for transparent and frank discussions with subject matter experts at Cardtronics, along with industry analysts and influencers. Specific issues discussed at our Fall 2017 Roadshow included the rise of the digital-first age and the challenge of delivering an “Amazonian” customer experience.
Opening the roadshow discussions were Bill Knoll, EVP & Managing Director, US Financial Institution Business at Cardtronics, and Joe Walent, Associate Director at Mercator Advisory Group. Walent presented survey findings from Mercator’s CustomerMonitor Survey Series, Banking and Channels, 2011-2016
, along with a review of industry trends and its outlook on branch transformation. The conclusion was there is no doubt that the branch is still a vital piece of the financial pie for consumers. However, the way account holders use it is changing rapidly and considerably as digital becomes ingrained in the financial fabric of consumers’ lives.
Mercator’s presentation was echoed by one from NCR. Although digital is becoming prolific, cash is still a vital payment option for consumers – including millennials. NCR’s Self-Serv 80s Series
of ATMs was developed with branch transformation in mind as the still-necessary physical complement to an increasingly digital banking environment. Chris Henderson, Senior Director of Product Management at NCR, described how the 80s Series ATM portfolio comprises different models with varying functionality that can be used according to the financial institution’s ATM distribution strategy. Most interesting about the portfolio are the clean lines and highly intuitive interface that appeals to all generations.
A highly informative and interesting session was conducted by Dan Antilley, Chief Information Security Officer at Cardtronics. Antilley, an InfoSec veteran who recently moved to Cardtronics after 16 years at Bank of America in a similar role, examined the multitude of cyber threats that most companies are facing today – particularly in the financial services sector – along with the motivations for the attacks and what can be done to mitigate them. He also discussed Cardtronics’ attack prevention methodology and the need for vigilance from everyone to thwart these continuous threats.
A session on ATM product solutions closed out the meeting and was led by David McCrary, EVP & U.S. Product General Manager at Cardtronics. McCrary outlined the options available to financial institutions for optimizing their ATM strategy and distribution. Each bank or credit union has its own individual business strategies and goals into which its ATM channel strategy must feed – making flexible options essential for this vital channel connecting the physical and digital banking environments. McCrary explained some of these options that ranged from a financial institution deploying and managing its own ATMs, to the different ways to implement a surcharge-free strategy.
With the Frisco event rated a success by the attendees, more are planned for 2018 in other markets in the Cardtronics footprint. Watch this blog for information on our upcoming roadshows.
Director, Marketing Strategy – Financial Institutions