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.
As digital and ATM transaction volumes continue to creep up, 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 to harness increasing volumes of real-time ATM transaction data for:
- 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
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.