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ATMs – The Missing Link in Holistic UX in Banking

  • March, 2017

The Federal Reserve’s Consumer and Mobile Financial Services Report is a fascinating insight in to how people interact with their bank. The growth of mobile banking across all segments and demographics is not surprising however the fact that 78% of these smartphone users have visited a branch in the last month may surprise some. 87% of those same smartphone users have used an ATM in the last month. The fact that consumers are adopting more flexible, feature rich channels with a lower operating cost is win-win for the consumer and the bank. However consumers are not abandoning the ‘legacy’ channels, they are merely changing the pattern and frequency of interaction. Optimizing the customer journey across a range of channels, devices, self-service and assisted interactions is a huge challenge but one that banks have embraced across web, mobile and tablet. Is it time to also include ATM?

The two most popular scenarios for visiting a branch relate to the use of cash and checks, both of which are capabilities of modern multi-function ATMs. The ATM, and it’s emerging successor – the kiosk, have the capability of bridging some of the gap between the consumers continued pattern of visiting a branch and the bank’s desire to transition customers to self service.

2017 will mark the 50th anniversary of the introduction of ATMs, arguably the first step taken in providing digital banking for consumers. ATMs have provided us with the ability to access funds globally beyond the constraints of our own bank’s network. In the US alone there are over 400,000 ATMs. As a standalone user interface the ATM may have taken little advantage of the evolution of user interface design however most people would find them relatively simple to operate. While there is always a trend in media to predict revolutions in consumer behaviour, the evidence has consistently pointed to a evolutionary pattern of change.

So what is the problem with ATMs, they seem to have been doing a great job for half a century? Firstly, transactions and services have evolved and expanded, the cookie cutter approach to bank product and service offerings has been left in the last century. The ATM network is limited in its ability to respond to these business changes. The ATMs are transactional focused and do not align with the sales and advisory functions. ATMs interact inconsistently with other channels in the rare cases where there is any interaction. Using most ATMs is like travelling without SatNav, you can get to where we want to go but you don’t know that there is a better route or use real time information to avoid road work.

The industry has not stood still and the advent of kiosks such as Glory’s Teller Infinity have created on opportunity to augment the offering and the benefits in strategic locations. Providing a user experience that is consistent with web and mobile is not only to delight your customer, it is to ensure that the goals of the bank, such as sales or advisory, are consistently embedded across interaction channels. Your ATM or Kiosk is undoubtedly an important marketing channel to your customers, equally it is a significant opportunity when customers of your competitors use it with their other bank’s card. So why do you present a user interface to your customers that is 50 years old? Is it because you have decided it is the best solution or because you never thought it was possible for an ATM to have a modern web user interface?

While there are many opportunities, these three are a good place to start:

  1. Map out your ATM & Kiosk network creating segment specific solutions for in bank locations, in non-bank secure locations, in public locations and for interaction through third party ATMs.
  2. Utilize Kiosks and multifunction ATMs in branch lobby, in-store or in company using a user interface that is consistent with your other self-service channels presenting the same refined transaction, service and sales content.
  3. Analyze the transactions and services currently performed by ATMs and tellers to inform a strategy that will better empower your customers.
  4. Get your enterprise architects on-board at the start to ensure a business led and technology supported strategy.

Antuar recently work with Glory and a US financial institution to implement the TellerInfinity kiosk fully integrated to the branch operations with real time monitoring, management and assistance from on-site employees through their tablets. Please contact us for a demonstration of the capabilities of our inBranch Kiosk product.

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