Unlocking Your ATM Big Data Analytics

upcoming webinar: unlocking your atm big data
Unlocking your ATM Big Data – watch the webinar recording

Over the past few years, I have spoken with enough payment processors, credit unions and retail banks to confirm that transaction data holds great value when it comes to improving the end customer experience, speeding up problem isolation, and analyzing profitability based upon card types, ATM locations and value added services. But how can your ATM channel managers and IT operations team make sure the cost of retrieving and analyzing ATM big data analytics does not exceed the benefits?

Today’s forward-thinking financial institutions are heavily investing in technology initiatives such as mobile banking infrastructure and more sophisticated, interactive ATMs. These new technologies allow customers to initiate a broader range of cross-channel and self-service transactions that were typically handled by costly branch tellers and customer service representatives. Expanding services and the growing number of customers opting for self-service channels are resulting in an explosion of ATM big data analytics that is making it hard to keep service management risk in check with support costs.

The need for banks to quickly tap into “actionable” big data analytics is driving demand for more flexibility and insight into how defined ATM terminal groups, authorization hosts, individual service offerings and card types are performing. While existing ATM management solutions produce statistics based on withdrawal and deposit transactions from the ATM, many do not capture information on other “emerging” transaction types, such as internal funds transfers, mobile e-receipts, interactive teller exchanges, third party bill payment, marketing fulfillment campaigns, and value added services such as mobile top-up, prepaid gift cards or transit ticketing. Most switch monitoring tools only provide limited visibility into transaction network paths and performance details, as well.

Here are some examples of customized transaction statistics created by one INETCO Insight banking customer in the United Arab Emirates. The goal was to help their ATM operations and marketing teams manage targeted campaign performance, enhance the profitability of their ATM channel, and ensure important customer interactions are secure and reliable. Rich, actionable transaction data is being forwarded into their existing ATM management solution on an hourly basis for a complete, one-stop view into ATM device and transaction network performance, including:

  • ATM cash deposit and withdrawal totals, broken down by currency type
  • Number of withdrawals on us, broken down by debit, prepaid and E-Dirham
  • Number of withdrawals by others, broken down by UAE switch, Visa and MDS
  • Number of prepaid card reloads, credit card and utility bill payments, broken down by type
  • Number of account to account transfers, cardless transactions, pin changes, balance inquiries, and statement requests broken down by on us, UAE switch, Visa and MDS

The right transaction monitoring software will enable banks and payment processors to gain easier access to all their ATM big data analytics, quickly process huge amounts of transactional data and create actionable statistics across a broad range of use cases.

ATM channel managers and banking operations teams can analyze service delivery trends and produce a wider array of customized performance statistics that can lead to increased customer satisfaction, lowered transaction costs and improved margins and revenue growth.

If you are interested in learning more on how you can get the most out of your ATM big data analytics with real-time transaction monitoring and customized interval statistics, please join us next Wednesday, February 26th for a complimentary webcast titled, “Unlocking your ATM Big Data”.