Do you actually have an ATM Strategy? Did you even know you needed one? Many financial institutions do not have an ATM Strategy. They treat their ATM Machines as a necessary evil and something that will go away, hopefully sooner than later. Read on to see what we think your ATM strategy needs to include!
ATM machines are key to your member facing technology. A touch point with your members that is as important as the member experience in your lobby or on your member’s smart phone. Until you decide to do away with ATMs forever (which in our opinion, isn't happening anytime soon), you need to enhance the member experience using this delivery channel.
Most credit unions have already paid to upgrade their ATM Machines to be ADA Compliant. Many have paid to make their ATM Machines image-enabled to accept cash and check deposits. Now is the time to create a new ATM Strategy that will separate your credit union from other financial institutions around you! With Magic Line ATM Intercept Processing, you can create an ATM strategy that will increase functionality, decrease costs, and improve service.
Below is the short list of how to get your financial institution on its way to a better ATM Strategy:
1. Customized ATM Screens
ATM Machines have long had the ability to do more than just dispense money. They are driven by intelligent server technology and they can do many tasks well. For instance, the screen on your ATM can be setup with tiles, just like a smart phone, and used in a very innovative way. One tile could be used for financial transactions, while other tiles could be used for marketing, wealth management, surveys, you name it! You can use advanced branding on every one of your ATM screens, not just the splash page. You might allow members to email their receipts verses printing them, or perform A2A or P2P transactions from the machines.
2. Advanced ATM Functionality
When you go to the ATM Machine today, you can probably access your main share and your draft account. That is how most ATM Machines are setup today. However, with Magic Line, your members can see all of their accounts. They can see their club accounts, their IRA accounts, their loans, and every account that you decide you want to make available to them. Members can get a mini statement from the machines, which provide so much more information and service than the existing machines you have in place.
3. Post Directly to your Core
Take your existing ATM Machines, that you have already invested in and upgraded, and add new services that are of value to your members. You can do all of this, and you can save money in the process. Yes, by posting your ATM Machine transactions directly to your core system for your own member transactions, you create on-us transactions that don’t cost you anything. Foreign transactions are forwarded to your EFT Provider just as they are today. Since many of your machines are in your lobbies or in the drive-thru, the majority of the transactions are on-us.
In a recent return on investment (ROI) analysis of a credit union with 30 ATM Machines, Magic Line would save that credit union $195,000.00 per year…year after year. Yes, that’s right, improved service and lower cost.
4. Total ATM Management
If that is the case, then why don’t more credit unions do Intercept Processing with their ATM Machines? The answer is that most credit unions don’t want to have to manage the ATM Machines, they don’t want to have to deal with the back office issues, and they don’t want the capital expense associated with Intercept Processing. Magic Line fixes all of that by offering hosted ATM Intercept Processing. We manage the machines, we call your provider to send someone out if the machine is down, and we have made the capital expenditures necessary to have a primary and backup site available.
5. Your Custom ATM Strategy
We know every credit union is different, but all have the same core values of people helping people. If you want to have an ATM Strategy that separates you from other financial institutions in your area, give the United Solutions CUSO a call and let us custom design an ATM Strategy for you!
