The ATM channel offers exciting possibilities for banks – if they are astute enough to recognise them and then to take the necessary action. This is the key message found in a new whitepaper released by Efma, a leading non-profit retail banking association, and Clear2Pay, a payments modernisation company.
In the whitepaper, which is titled ‘In search of the €1 million ATM: Revisiting and
reinvigorating the ATM channel’, Efma and Clear2Pay bring together presentations and discussions that took place within their Think Tank webinars.
The overarching opinion is that the ATM is far from dead: indeed, it is alive and kicking and has a significant role to play in the future of retail bank ing throughout Europe and beyond.
“With all of the excitement surrounding recent developments in the financial services industry, such as the use of social media and mobile banking, the ATM has tended to become the forgotten channel,” says Patrick Desmarès, Efma’s CEO. “Banks have either ignored it or overlooked the huge potential it offers for extending their reach and increasing the capabilities.”
“The whitepaper provides evidence that this is an ideal time, not just to make the changes that might be required to ATMs, but to explore new ways of using them to increase revenues to attract new customers through exciting new features, and customer centric services. Ultimately, it might be possible to attain the magical goal of the so-called ‘€1million ATM’, as referred to in the report.” adds Nicolas Métivier, EMEA General Manager, Clear2Pay