Today, people are used to immediate satisfaction: booking a flight ticket within minutes without moving from the sofa, getting food with a simple phone call and knowing the distance from the next gas station thanks to a mobile app. As a result, consumers expect the same effectiveness and comfort from all services including banking, and financial institutions are well aware of it.
Indeed, banks are transforming their offer to adapt to these new technologies. As a consequence, they are closing a growing number of branches to allocate funds to digital innovations and enhance online and mobile services, which are increasingly replacing traditional activities. Nevertheless, these measures are leading to a reduction of the number of ATMs. Yet, the demand for
cashMoney in physical form such as banknotes and coins. More continues rising and banks must ensure that banknotes remain available. Last year, cash accounted for 75% of transactions worldwide, and Mercator Advisory Group’s statistics demonstrate that the number of customers who visit ATMs several times a week doubled in 2016.
Banks had to rethink their strategy and have increased the number of in-house ATM services to meet customer needs. Furthermore, many financial institutions joined
Allpoint network – a Cardtronics’ service that provides surcharge-free ATMs in public locations including grocery stores or airport terminals.