Reinvention Of ATMs [Trend To Watch]
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Reinvention Of ATMs [Trend To Watch]

Attendees at last year’s Money 20/20 were given a sneak peek at Bank of America’s future ATM, which was referred to as a “personal financial concierge.” The new ATM will tightly connect with mobile phones in order to enable customers to pre-stage transactions. From their phones, users can begin the process of withdrawing and depositing funds, then complete the transaction by holding a phone over an ATM’s NFC reader. With the bank’s new ATM, customers will also be able to perform additional services, such as schedule appointments with specialists in the bank’s financial centers.

ATMs remain critical in banking and provide an opportunity for firms to improve the customer experience and reduce costs. We will see more companies investing in revitalizing their ATMs by providing a more personalized and intuitive experience based on customer behavior and preferences.

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