ATM: how to turn a “cash box” into a communication channel to generate income

Despite the decline in the proportion of cash transactions, ATMs and payment terminals still play an important role in the digital services ecosystem. They allow expanding the geography of the bank’s attendance at a minimal cost. With ATMs it is possible not only to facilitate banking operations, but also to fully implement the concept of a digital office, increase sales, introduce new services to clients and supplement other bank channels.

In this article, we’ll have a look at the list of the most demanded business goals that companies seek to solve. Our experts have conducted research, and we are ready to share really valuable practices based on the gained experience. For each business goal, we detailed a list of proven necessary actions to take.

How can banks help clients solve atypical problems?

Successful tasks completion depends on user interface navigation. Standard and commonly used features are easy to see. But if a client has a task not related to cash, and the solution cannot be found quickly, then he will leave and ask the manager for help.

The key to simple UI navigation:

— Do not confuse the client with a different set of functions when authorizing in different ways.

— Always leave the option to return to the previous step.

— Provide clear guidelines for action.

The best tip:

It often takes a long time to find the right service provider for payments at an ATM. This is due to categorization issues or the lack of filtration by the region where the client is. The best practice is to give the opportunity to select a city in the payments section. This allows the user to be sure that one sees the right local service providers.

How to increase the traffic capacity of ATMs?

The fewer actions — the shorter the lines. Extra actions increase the time customers spend with the device. This is important both for frequent and understandable operations, and for atypical ones.

Best tips:

• Clients can reduce the number of actions when withdrawing cash using buttons with a specific amount on the main screen. Amount suggestions based on previous transactions will also help.
• Scanning QR-codes on receipts helps speed up the process of payments. This practice will save a lot of time for clients, as well as reduce the number of invalid data.
• The standard button set does not allow the client to control the denomination of the bills. Therefore, clients have to stay at the ATM, repeating cash withdrawals several times. The ability to accurately select the denomination solves this problem.

For example, if a client wants to withdraw $ 240, the ATM offers only one denomination — $ 100 or $ 20. Then the client will have to carry out at least 2 operations — withdraw $ 200 and withdraw $ 40.

Can customer loyalty be managed with an ATM?

Yes. Customer loyalty is influenced by problem situations. Informing about what happens during the operation could help to avoid unpleasant situations.

Most devices provide insufficient customer support as there are few details about the operation, error messages aren’t always clear, and success messages are not always unambiguous.

The best tip:

When not explained, transaction limits cause dissatisfaction. For example, situations, when the limit the client sees on the screen, is less than the required amount. It is principal to explain how the limit is determined and what the user can do if a larger amount is needed.

How to increase sales using an ATM?

Sales processes are complex and individual. Therefore, it is important to highlight several aspects.

The best tips:

• Offload client managers in the office. Banks with a large number of branches allow signed-in clients to open saving accounts with an ATM. This helps redirect branch visitors to ATMs and relieve office managers. Online banks offer to become a client via an ATM. For example, on the screen before authorization, there is a button to apply for a card.
• Launch a channel for additional communication. The ATM can display ads on an idle screen. However, the more effective option is to show personal offers to the client based on the context of the ATM usage.
• Make a clear offer. An offer based on a customer segment or concrete action will be more targeted, thus increasing the chance of a sale. Extra clicks on buttons and transitions to additional screens prevent clients from quick registration. A clear call to action will help users understand they need to activate the offer more easily.

How to transfer a client to a mobile bank via an ATM?

Although the field for experimentation is still wide open, we’ve already found some proven methods today.

The best tips:

• Show the benefits. If clients withdraw cash to top-up another account, you should tell them about the transfers in a mobile banking app. Also, if the banking app ad is placed on the ATM, then it must include a QR code for installation.
• Do not interrupt the communication during the transaction. ****In the context of a non-cash transaction, display a message that this transaction is also available in the mobile app. After the client withdrew cash, show the mobile app capabilities on the ATM screen. On the receipt, show information about the mobile app with a QR code for downloading it.

How to keep the client from withdrawing cash?

Show all the benefits of cashless payments. Some situations require cash anyway, but in other cases, the bank needs to promote the possibility of non-cash transactions and motivate clients to keep money on the card.

The best time to display cashless payment ads is waiting for the operation to be completed, and the best motivation is benefits from non-cash transactions: cashback or commission-free payments.

This article was prepared on the results of the ATM Customer Experience Rank 2020. Markswebb researchers analyzed the approach of the 10 largest Russian banks for individuals, collected their best practices and identified points for growth.

More detailed information about characteristics of the best interfaces, a map of trends in the development of ATMs and payment terminals, a description of 100 best practices, insights from interviews and a methodology for self-assessment can be found on the Research&Markets research store.

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