The role of ATMs and cash access in the digital banking era

Mobile Payments Today

Amid rapid changes in the cash economy and the rise in digital payments, the ATM is likewise facing challenges that have led to an evolution that will meet the demands of a new generation of customers

ATM 358

Look Beyond Technology for Better Digital Banking, Fiserv Says

Bank Innovation

EXCLUSIVE—With mobile banking services offered at the majority of financial institutions, innovating the digital space is becoming more important in the fintech ecosystem, especially for smaller players like regional banks or credit unions.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

ATMs Are Ahead Of Their Time — Again

PYMNTS

The automated teller machine (ATM) debuted 51 years ago in the U.S., They quickly faded into the décor of banks and street corners, becoming a prosaic feature of everyday life. A convergence of factors is at the root of the ATM makeover now underway.

ATM 220

Deep Dive: How AI And Automation Are Changing Digital Banking In India

PYMNTS

Many Indian consumers are making their first forays into the digital financial ecosystem as demonetization continues to shrink the country’s age-old reliance on cash. Chatbots, AI and Personalization in Indian Banking. Fraud Protection and the Future of Digital Banking in India.

Teen-Focused Digital Bank Pixpay Raises $3.4M

PYMNTS

French startup Pixpay is the first challenger bank to cater to teens, offering a debit Mastercard for cashless payments, news outlets reported on Friday (Nov. Like competitor Kard , Pixpay wants to give teens a way to go digital and ditch cash altogether. .

How Banks Have Adapted Their Digital Banking Systems To Serve Customers During The Pandemic

PYMNTS

Branch visits are vital to customers’ financial lifestyles, despite mobile and online banking’s growing popularity. We don’t think about digital just as a client-facing tablet,” Warder explained. “We’re We think about digital very broadly in that way.”.

Emirates NBD Launches Digital Bank E20.

PYMNTS

Emirates banking group Emirates NBD has announced the creation of E20., a digital bank for the region, according to a release by the company. It will have a mobile app and provide different services necessary to carry out banking needs. Banking banking Digital Banking E20.

UAE Sees First Digital Bank For SMBs

PYMNTS

Emirates banking group Emirates NBD has announced the creation of E20., a digital bank for the region, according to a release by the company. It will have a mobile app and provide different services necessary to carry out banking needs. Banking banking Digital Banking E20.

Hollywood’s Newest Special Effect, Digital Banking?

PYMNTS

From phone support and mobile apps to ATMs and chatbots — when it comes to customer service, banking automation has come a long way. However, the one missing piece that these automated banking features lack is a real human being to interact with during a transaction.

Digital Banking And Branches Aren’t An Either/Or Proposition

PYMNTS

Banks are not just competing for customer engagement and retention — they are also vying for funding and resources as they overhaul their infrastructure and banking tools. The latest Digital Banking Tracker examines how legacy institutions stay competitive with challenger banks.

Bank of the West Adds ATMs for Young Customers on the Move

Bank Innovation

Bank of the West recently added 143 ATMs across the Denver and Sacramento metro areas through an agreement with ATM operator Cardtronics. One target? Millennials, actually.

ATM 195

Moving Beyond The Limits Of ‘Cash And Dash’ ATMs

PYMNTS

ATM , as you likely know, is an acronym for automated teller machine. It’s also shorthand for, perhaps, a simple function — colloquially known in financial services as “cash and dash,” an ancillary, physical part of the brick-and-mortar bank branch.

ATM 234

JPMorgan’s Finn, Digital Banking App For Younger Clients, Is Finis

PYMNTS

Barely more than a year after banking giant JPMorgan launched an effort to bring younger clients into the fold — through digital means and specifically through a digital banking app — the firm is killing that particular nationwide project.

As benefit payments went digital, banks had to improve cash access

Payments Source

Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape.

Wells Fargo: More NFC Powered ATMS, Less Branch Interaction

Bank Innovation

EXCLUSIVE – People’s interaction with ATMs is shifting more and more towards cardless transactions, at least according to Wells Fargo. In its earnings call today, Wells pointed out that 40% of its ATMs have been near-field communication (NFC) enabled.

ATM 212

The 411 On The Digital Banking Evolution

PYMNTS

As the banking shift brought about by the rise of FinTech startups continues to disrupt the traditional brick-and-mortar banking experience to make it seamless, convenient and richer, we’re seeing all sorts of interesting partnerships and technological adoption.

Airfox, Mastercard Team To Expand Digital Banking In Brazil

PYMNTS

Digital challenger banking startup Airfox has announced a partnership with Mastercard Brazil to expand the availability of low-cost banking solutions, according to a release by the company.

Digital Bank N26 Offers New Perk Partners To US Debit Card Users

PYMNTS

subsidiary of Germany’s mobile bank N26 has expanded its Perk partnerships for debit cardholders, the company said in a press release on Tuesday (Dec. One of Europe’s fastest-growing mobile banks, N26 also offers direct deposit customers the ability to get their salary up to two days early.

The Role Of ATMs In Bank Omnichannel Strategy

PYMNTS

Pundits prophesy a cashless society — and indeed, vast swaths of consumers are migrating to digital and mobile channels for many of their banking needs, as shown by a decline in the number of brick-and-mortar retail bank branches. Millennials are taking a mobile-first approach to banking, driving that transformation. However, older populations — and even millennials — still need the services provided by bank branches. In fact, the number of ATMs in the U.S.

ATM 164

Singapore’s OCBC Bank Customers Can Use QR Codes At ATMs

PYMNTS

In an effort to make Singapore’s three million monthly cash withdrawals more digital, OCBC Bank has rolled out QR codes that customers can use at any of its 655 ATMs, the company said in a press release on Wednesday (July 31).

ATM 160

UK Banks Shutter As Digital Banking Surges

PYMNTS

bank HSBC has closed more than a quarter of its branches in its hometown during the course of the last two years. the closures are part of 1,000 closures of bank branches in total for HSBC. 2015, HSBC has reportedly closed 321 branches, which accounts for 27 percent of its bank network. Meanwhile, Co-operative Bank closed greater than half of its bank branches during the same timeframe that the HSBC branch closings occurred. Which?,

Chase Caps ATM Withdrawals For Non-Customers

PYMNTS

JPMC has capped ATM withdrawals at $1,000 per day for those who are not accountholders with the bank. Generally speaking, withdrawal limits are not set at the ATM and are instead the purview of card-issuing organizations. banks’ policies vary.

ATM 174

Virtual Tellers And Workhorse ATMs: Banking’s New (Digital-First) Normal

PYMNTS

back to some semblance of “normal” has challenges — and opportunities for banks, especially community banks and credit unions. As Brown told Webster, “It is the digital platform that can enable that change. Reinventing The ATM.

ATM 284

What ATMs And Open Source Have To Do With Payments Innovation

PYMNTS

The rise of Open Banking is helping to open up payment ecosystems, encouraging collaboration between traditional financial firms and smaller, tech-focused upstarts. Making Old ATMs New(ish).

ATM 266

A new digital bank needs a new customer service experience

Insights on Business

Banks continue their digital transformation journey to create new business models to satisfy today’s demanding customers. How do banks prepare for this new reality? For Bradesco, a large Brazilian bank, NEXT is the answer. Next is a digital bank, completely disassociated from the Bradesco brand. Next has access to all of Bradesco’s ecosystem, ATMs, call center, internet banking.

Digital Banking Partnerships Gain Traction in the US

PYMNTS

In the continued linkups between banks and FinTech upstarts, new markets beckon across various borders. Among the latest examples, N26 , which is a digital-only bank based in Europe, has entered the US market through partnership with Axos Bank in order to offer FDIC insured accounts.

Why Consumers Need Digital Banks To Be Better, Not Just Cheaper

PYMNTS

Having a simple bank checking account costs an average a monthly maintenance fee of $13.58 ATM fees, on the other hand, average around $4.66. That is why, MoneyLion Founder and CEO Dee Choubey said , his firm has set out to build a bank that isn’t a bank.

NCR and Diebold’s Troubles Point to the Decline of ATMs (and Cash?)

Bank Innovation

It’s not all bad for NCR, which also owns the digital banking software provider Digital Insight — software […]. Exclusive Premium Retail ATM branch banking Cornerstone Advisors Diebold Nixdorf Digital Insight NCR Novantas Square StripeNCR Corp. and Diebold Nixdorf Inc. reported earnings in the last few weeks, and it wasn’t pretty.

ATM 150

Physical Branches Are Still Important for BofA

Bank Innovation

EXCLUSIVE – Most Bank of America users do their deposits online or through ATMs, only 25% of them make deposits at branches. And yet, branches are still important to the bank. Exclusive Innovations Mobile Premium ATMs Bank of America digital banking

ATM 241

8 milestones in ATM innovation

Payments Source

Automated teller machines have come a long way since Barclays rolled out the world’s first ATM at a branch in north London 50 years ago. Here’s a look at some of the milestone moments and key innovations in ATM technology over the past five decades. Mobile wallets Bitcoin ATMs Digital banking JPMorgan Chase Wells Fargo Bank of America Citigroup Barclays

ATM 60

Deep Dive: How Banks Use Digital Technologies To Outlast The Coronavirus

PYMNTS

Some banks have shuttered their branches during the pandemic and are relying on digital or mobile channels to fulfill customer needs, but others do not have that option. Digital Technologies Under COVID-19. Fifth Third Bank, KeyBank and PNC Bank are among those in the U.S.

Cardtronics Expands Surcharge-Free ATM Footprint

PYMNTS

Through its wholly owned subsidiary, Allpoint Network, Cardtronics is growing its global ATM footprint. Allpoint Network , a surcharge-free ATM network with 43,000 ATMs in the United States, announced the latest bank to join its ATM channel — First Tennessee Bank. The move will also add more than 570 surcharge-free ATMs to the bank’s existing network in Tennessee. Cash ATM Cardtronics What's Trending

ATM 168

NEW DATA: How Credit Unions Fare Against Challenger Banks

PYMNTS

Brick-and-mortar presence used to give credit unions (CUs) a competitive edge over digital-only challenger banks. percent of CU members believe that being unable to visit branch locations represents one way in which using challenger banks would make their banking experiences worse.

Data 155

The New Killer KPI for Personal Digital Banking: Moment-of-Need to Resolution

Banking Exchange

Few realize it, but a new era of community banking is here Community Banking Technology Retail Banking Tech Management Branch Technology/ATMs Feature3 Feature. 1Community Banking

Future of Customer Experience in Digital Banking

Banking 2020

Digital banks are no longer in the ‘money’ business but rather, in the ‘value’ business. Unlike in the past, when more than two products from one bank made a customer loyal, customer behavior is fleeting and their expectations for digital banking is increasing every day, because technology is giving them numerous choices and control. This digital experience is vital, as it determines whether they should stay or move to different banks for better service.