Is Extracting Full Value of ATM Data an Opportunity for Banks?

Banking CIO Outlook | Monday, November 18, 2019

In a world where digital banking volumes are growing, forward-thinking financial organizations are investing in real-time ATM data analytics to succeed.

FREMONT, CA: The rise of digital transaction channels has transformed the banking industry by sparking a new opportunity for ATM. Today’s ATMs deliver secure, enhanced customer experience and increased revenues for banks. Also, there are massive nuggets of business insights banks can obtain from ATM transaction data. An ATM network is an always-on data source. As ATM data increases, the number of use cases surrounding this data will also increase.

Information such as transaction types, transaction fees, and dollar amounts can be used to improve ATM placement decisions and provide an accurate breakdown of profitability by fleet level, device segments, and individual cashpoints. This data can also be used to display information such as currently available cash positions for each ATM, replenishment transaction dates and amounts, and unveil opportunities for cross-selling and personalized marketing campaigns. By having the potential to collect real-time ATM transactional data, banks can obtain proprietary insights into consumer or card trends and use these reports to improve banking service.

Top Payment and Card Solution Companies

Each transaction in the ATM network contains information about what the customer is experiencing, how networks and applications are affecting performance, and what is the business value of each ATM transaction. These data reveal details such as the ATM terminal ID, geographic location, and transaction status. ATM data contains valuable information, including transaction type and transaction amount, which has great value when it comes to enhancing customer experience, accelerating problem isolation, and analyzing channel profitability.

Real-time ATM data monitoring and analytics make it easy and affordable for banks to access a centralized deposit of rich business intelligence, providing significant opportunity to improve customer experience, reduce support costs and make the bank’s ATM channel more profitable.  

Check out: Top Payment and Card Solution Companies

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