ITMs come to credit unions

ATMs are traditionally fairly simple machines. They hold and dispense cash to customers who request it. However, due to both competition from fintechs and changing consumer relationships with banking, banks have had to make adjustment to all of their strategies: including with ATMs. As a result, some are beginning to look at ATMs as not simply cash dispensing devices but full self-service banking solutions, also known as ITMs.

ITMs typically provide expanded banking tools, such as video banking, and they can also replace traditional tube systems.

Arizona Bank, for example opened a branch in Glibert, Arizona which featured an ITM that provides video banking Monday to Friday 8 a.m. to 10 p.m. Credit unions are also beginning to get in on this trend, such as Alliance Catholic Credit Union, which serves Michigan.

Alliance worked with Dolphin Debit to deploy 15 ITMs as part of an overall strategy to improve its drive-thrus and deliver quality experiences at locations that don't have a lot of staff. In essence, the credit union can deliver more banking services with a smaller footprint, saving money while improving the customer experience in the process.

To learn more about this deployment and how ITMs can help other credit unions, ATM Marketplace reached out via email to Adam Tonge, VP of retail services for Alliance Catholic Credit Union and Joe Woods, SVP of marketing and partnerships for Dolphin Debit.

Q. Why did you decide to deploy ITMs?

Tonge: ITMs are a key to our member service and growth strategy at Alliance Catholic Credit Union. ITMs are helping us grow our footprint with smaller, more cost-effective branch locations. The branch model with an ITM allows us to test new markets with a smaller human and financial capital investment.

Q. What features are particularly appealing to your customers?

Tonge: The ITM is close to a complete replacement for the pneumatic tube system. The ITM has helped us redesign our drive-thru strategy to keep service levels high. We now look to add them at locations where we may not need a high level of staffing or when replacing a drive-thru. So I would say what is most appealing is the overall member experience. Their experience is much improved on the ITM over the drive-thru tubes.

Q.What advice would you give to other credit unions looking to deploy ITMs?

Tonge: We have seen a very positive reaction. It is very important for the credit union to engage with membership when implementation happens. That initial reaction has become even better over time as we have worked to gain adoption.

Q.What features do your ITMs provide?

Woods: Our ITMs provide video teller access and core integration into 19 core software providers. In addition, Dolphin-Euronet has completed more than 200 host-to-host connections for larger institutions that required special or unique transaction sets.

Q. What distinguishes them or your services from other ITM providers?

Woods: Dolphin is equipment neutral. We can provide a complete ATM & ITM solution from all equipment manufacturers as well as custom design solutions.

Q. What advice would you give to credit unions looking to deploy ITMs?

Woods: Take your time to do the research. Have multiple conversations with your peers that have already upgraded to ITMs. You can learn from their successes and failures. Don't rely solely on one vendor for your ITM solution, since they tend to promote only what they can provide. Choose a vendor willing to spend the time consulting with you to design the right solution. That's especially important because each engagement is unique.

Learn more

ITMs are a part of a larger trend of transforming bank branch's design, hiring and other practices to meet customer needs. You can learn more about this by attending the Bank Customer Experience Summit, held in Charlotte, North Carolina from Sept. 12 to 13, which will feature multiple panels on how banks are transforming the customer experience. Click here to register. Use the code AMCEDIT20 for 20% off at checkout.