ATM’s across the world are being used for new and innovative services, that keep customers satisfied.  North American ATM’s just provide the basics.

WSJ.com – The Envelope-Free ATM

In Russia, a consumer can put rubles into an automated-teller machine and get U.S. dollars in return. In Brazil and Venezuela, the machines print checks. And banking customers in Indonesia can use an ATM to schedule and pay for the ritual sacrifice of a goat.

However something as simple as envelopeless cheque depositing which sounds cool, is not necessarily a good use of investment.

Unlike traditional machines that swallow an envelope and require the customer to key in the deposited amount, the new versions read checks and count cash themselves. They can display an image of the check on the screen, and also print an image of the deposited check on a customer’s receipt. Bank executives literally “oohed” and “aahed” when a representative of ATM maker NCR Corp. demonstrated the technology at an industry conference last fall.

The costs of the cameras and cheque handing, to achieve this are significant, and given cheques are going away, does this make sense?  Perhaps the North Americans have this part right.

Relevance to Bankwatch:
The ATM manufacturers find it easy to wow Bank Executives in the ATM space because those folks generally haven’t been engaged in the online banking space.  The online bankers know innovation, and understand the importance (now, post dot com crash) of not getting caught up in the technology, and remaining focussed on the customers needs.

Continue reading “North American ATM’s are falling behind”