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ATMs will continue to survive as long as cash remains a part of the payments mix – which means a long time. Deployment and revenue models, however, will change.
The transition to Internet-based technology has vastly expanded the marketing and product feature capabilities of ATMs.
Despite the steady decline in check volume, ATM deposit automation can bolster the bottom line by reducing the incremental costs of deposit handling.
ATMs can be used to facilitate small-dollar remittances and loans and provide additional fee income for banks, according to Privier’s Bill Drevant.
New technology can curb the cost of handling cash, says Wincor Nixdorf executive Uwe Krause.
Many banks recoil at the notion of giving up control of their ATM networks, but cost and value considerations make it worth considering.