Increasing Digital Volumes and Shifting ATM Usage Amid COVID-19: Are you ready?

As the Coronavirus (COVID-19) reality hits home, retail banks and credit unions all over the globe have been quick to respond to customer and employee safety concerns. In Canada last week, we witnessed the Big Six – Bank of Montreal, CIBC, National Bank of Canada, RBC, Scotiabank and TD – temporarily closing branches and encouraging customers to shift their interactions to ATMs, online and mobile banking channels. The FDIC, in its latest guidance for banks, also suggested that banks consider raising daily ATM withdrawal limits, and waiving ATM fees for those that may need to use out-of-town or out-of-network ATMs to get cash. Although many customers are considering online and mobile alternatives as they become less keen to share ATM touchscreens, we are far from declaring ATMs obsolete.

An ATM being monitoring by INETCO Insight to provide operations teams insights into customer usage, ATM availability, cash forecasting and fraud detection. As digital transactions continue to creep up and the ATM role shifts, so does the heightened sensitivity of people and businesses that are relying on withdrawals, cash deposits, real-time payment transfers and bill payment transactions to complete as expected in these stressful times. There has never been a more important time for financial institutions to guarantee that their customers will have access to primary banking services and cash when they need it most.

We all need to do our part to help. And INETCO is ready to help you add another layer of defense against performance meltdowns and payment fraud attacks. Here is an ATM-focused whitepaper that outlines how real-time transaction-level visibility can help with:

  • Early warning fraud detection and compliance
  • Real-time payments monitoring and performance alerting
  • Customer usage, ATM placement and self-service channel profitability analysis
  • Cash forecasting
  • Reconciliation and ATM dispute resolution
A man banking at an ATM while INETCO Insight monitors the transaction and provides data to the bank
Free download: Banking on ATM Big Data Whitepaper

This time is about building resilience together – any way we can. If you are interested in learning more about INETCO Insight, or would like to take next steps towards a simple deployment plan, please contact INETCO immediately.

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