Now a bit more than half a century old, the ATM helped pave the way for self-service access to basic banking activities that many consumers have come to expect from all sorts of devices. What began with cash withdrawals at ATMs has expanded – both in terms of services offered and channels to access those services.
Online banking enables bill payment and money transfer, for example. Mobile apps are used to check balances or perhaps halt a debit card transaction, among other things. And that’s just scratching the surface of self-service channels and how banking customers use them to replace what used to require a trip to a branch office.
With the onset of the digital transformation of transactional banking, banks and credit unions have been challenged to achieve the proper balance of branch and technology channels, to efficiently and effectively invest in technology platforms, and to contain the cost of still vital legacy channels. On top of all this, financial institutions in today’s digital age want to further move transactional banking off the teller line so those employees can engage in higher-value customer interactions.
As far as ATMs go, financial institutions are increasingly outsourcing the management services of their branch and off-premise ATM networks. However, empirical evidence of the efficacy of an ATM outsourcing strategy has been lacking. Until now.
PG Research & Advisory Services recently conducted an independent study into the state of the ATM managed services market to find out how financial institutions view ATM outsourcing and what role it plays in distribution strategies around retail financial services.
Financial institutions of all types and sizes were interviewed to examine their ATM management practices and attitudes towards leveraging the ATM channel in support of brand expansion, competitive services and branch transformation activities.
To learn more about the PGRA study and alternatives in ATM distribution strategies, attend our webinar hosted by American Bankers Association on March 28, 2018 at 2 pm EDT/ 1 pm CDT.
During the session you’ll hear from Patricia Hewitt, CEO of PGRA, as she reveals the findings of the outsourcing study. David McCrary, EVP - Product Management & Innovation at Cardtronics, will discuss the trends in today's market and the various ATM distribution strategies available to banks and credit unions.