Industry Trends and Publications

Feb 05 2014
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Payments Journal: Self-Service is Quickly Becoming the New Norm

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Everyone is talking about big changes happening in consumer banking. The prognosticators have been telling us what consumers will think and what to expect and countless articles deliver pros and cons in the debate and data that changes seemingly by the minute. I won’t weigh in on the latest version of what to expect. I can tell you from personal experience, however, that we’ve embraced self-service technologies and they’re driving our numbers. Read More

Jan 23 2014
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Better ATM Services CEO talks to Market Watch: Will new ATMs make your bank branch obsolete?

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Your ATM will soon be more than just a cash dispenser—in fact financial executives and analysts say the technology may soon be able to replace some human bank tellers and bank branches.

There are roughly 425,000 ATMs in the U.S., and many of those have already gotten an upgrade—or soon will. On Thursday, Citibank C +0.04%  told MarketWatch it will unveil new ATMs in the U.S. that “remember” customer preferences (like language), offer on-page scrolling (as on an iPad), let you check your balance without leaving the screen you’re on, and feature instructions that are more conversational; the new ATMs were piloted in New York City last year and will begin rolling out in other locales in February. The move is part of a larger evolution of the stalwart machines. In the past few years, Chase and PNC introduced ATMs that dispense $1 and $5 bills; Citibank and Wells Fargo began letting you get an email receipt of your balance rather than a paper one; and Bank of America and a number of credit unions began experimenting with video conferencing with a live person right on the ATM rather than keeping employees in every branch. Read More

Jan 10 2014
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ATM Marketplace: “The ATM Industry in 2014: Beyond the Model T”

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To get a better idea what to expect from the ATM business in 2014, we asked professionals from across the industry what the year’s big newsmakers would be. Below, you’ll find their insights. 

What do you think 2014 will bring? Add your comments at the end of the story.

When Henry Ford went to his board of directors in the late 1920s and said that he wanted to introduce the Model A to replace the Model T, their response was that they had already saturated the market and a new model would not sell — people who wanted cars already had cars. Imagine that.

I think that is what the ATM industry is going through — we need to introduce the “Model A” and charge forward into a market that is still growing, replacing, and maturing.

The low hanging fruit has been picked, so we have to work smarter. Henry did, and look what happened to his industry.

— Bill Dunn, VP of sales and marketing, Hantle Read More

Jan 10 2014
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Payments Journal: Credit Unions Need to Look At the Numbers

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It’s a common refrain among colleagues at credit unions nationwide: How do we attract younger customers?

What’s driving the discussion is the data. The average age of most credit union members is 48. This average age has been decreasing as it was 46 in 2010. Driving the debate is the realization these numbers indicate credit unions are not attracting younger members whom, over time, will become borrowers. Those borrowers are those who need that first car, money for a wedding, a family car, a home, and then college for children. You get the idea.

Refreshing your base of customers is a standard that all businesses understand. That said, the fact of the matter is making your financial institution attractive to a younger generation is not simple. Certainly, having numerous online and mobile applications available helps and frankly, may be a necessity. But consideration needs to be given to some key demographics that were at the heart of the CUNA National Member Survey – 2010-2011 and the FDIC 2011 National Survey of Unbanked and Underbanked Households. Consider these data points: Read More