ATM OUTSOURCING DONE RIGHT (WHITE PAPER)
ATMs are a widely-used resource for consumers to quickly access their accounts and cash while on the go. Over a quarter of consumers in the US use ATMs to access cash. And as bank and credit union cardholders flock to mobile, reliance on the ATM is increasing. Over ha If (54 percent) of frequent mobile banking users report an increase in ATM use, according to a study from Raddon Research Insights. This number has also spiked for individuals who prefer online banking, with 58 percent reporting an uptick in their visits to the ATM.
Technology has begun to generate a greater reliance on the ATM as a resource for cash access, but this newfound popularity for the classic self-service banking machine has become a double-edged sword for many financial institutions (Fis).
The Ugly ATM
ATMs used to be a revenue generator for many banks and credit unions. Consumers visited branches, regularly kept cash on hand, and accepted additional fees as the price to be paid for the convenience of an ATM.
Now 77 percent of consumers report actively avoiding ATM surcharges, according to a Mercator Advisory Group study. An industry report from ATM Marketplace notes 79 percent of consumers say access to fee-free ATMs are either "very important" or "essential" in their decisions regarding financial institutions.
READ THE FULL WHITE PAPER IN THE LINK BELOW
STAR FINANCIAL SERVICES
800.742.1852
sales@gowithstar.com
