According to PaymentsJournal.com, ATMs are something consumers are paying more attention to when choosing a new bank. Some especially interesting numbers include:
- 65% of consumers are interested or very interested in the convenience of an ATM location near their home.
- 58% of consumers are interested or very interested in the number of branch-based ATMs the bank has in their local area.
- 59% of consumers are interested or very interested in ATMs without long wait times to use them.
These numbers seem to indicate that, now more than ever, financial institutions (FIs) should be sure that their ATM fleet is handled by the right Cash-In-Transit (CIT) carrier.
Think beyond the basics
The right CIT carrier should be able to help the FI manage cash replenishments, deposit pulls, balancing, cassette reconciliation and customized reporting. However, many FIs should consider a CIT carrier that could offer more advanced services like 1st Line Maintenance of machines, lock installations and support.
Rochester encourages its customers to pair Rochester’s ATM services and Cash Vault Services together. This reduces the FI’s liability and risk as well as increases efficiency. When these services are paired, the FI not only is able to create a more accurate picture of cash utilization for each ATM machine, but also comply with the industry’s best practices of processing currency in a vaulted facility.
With the right CIT carrier as a partner, FIs are also able to ensure service to customers is not interrupted even if the branch location has suspended or limited operating hours. ATMMarketPlace.com reported on a panel discussion from a recent ATMIA event that discussed lessons from the pandemic. The panelists all agreed that among the many lessons, access to ATMs is crucial. One panelist pointed out that when tellers were not able to work, and branches subsequently closed, consumers were left with one way to bank and access cash: ATMs. That’s when the right CIT carrier, a true partner, comes into play.
ATMs continue to evolve
The panel discussion also highlighted that ATMs continue to evolve based on what consumers indicate they want and need. Some consumers may want the multi-feature experience of an ITM while others want the simplicity of quick, straightforward transactions of a basic ATM.
It’s important that the CIT carrier an FI chooses can handle every machine from the most basic ATM to the more complex ITMs. Rochester knows that training for ATMs and ITMs isn’t a one-time event. To service its ATM customers, Rochester employees must complete ATM Certification, which requires hours of hands-on learning. In addition, Rochester’s ATM department is committed to sharing new information and best practices among all its branches to provide the best possible customer experience.