Wincor Nixdorf Inc., one of the world's leading providers of IT solutions and services to retailers and retail banks, today revealed the results of its first annual consumer survey.
The survey polled consumers on their knowledge, preferences and trends regarding ATM usage. The majority of consumers indicated they would prefer to conduct banking transactions at their ATM, with more than 74 percent of respondents citing they hope one day their ATM will offer all of the functionality and services as their teller. Additionally, the majority of respondents said they prefer depositing money at their ATM, as opposed to traditional face-to-face interaction with the teller.
"As the retail banking industry continues to struggle with making up for the loss of overdraft revenue, automation is no longer a 'nice to have' - it is a necessity," said David Hadesty, VP of Product Management for Wincor Nixdorf's U.S. Banking Division. "With results of this survey showing consumers crave more features and functionality at their ATM, the opportunity for banks is obvious - invest in more sophisticated ATM technology that is proven to dramatically reduce cash handling costs at the branch, while freeing up valuable associate time for more critical tasks."
Key findings:
* Banks that offer envelope-less cash/check deposit have a competitive advantage: 63% of the entire sample agreed that, if all else was equal, and one bank offered envelope-less cash and check deposit and another didn't, they'd prefer the bank with this functionality
* Consumers go out of their way to use ATMs located on the premises of a retail bank because they want to avoid fees and feel that this is a more secure ATM environment
* 86% of respondents agreed that ATMs features and functionality are important to choosing their bank
* Respondents want all of the service and features currently at a teller to be available at the ATM and the majority would visit the ATM more often if they could purchase other items such as stamps
* 73% of consumers who do not have intelligent deposit at their bank are interested in this feature - and would use it about three times a month if it was of it f it was offered to them