How balancing members’ needs improves end-to-end ATM experiences
Credit unions (CUs) nationwide are upgrading ATMs to provide a full range of banking services. But upgrading ATMs adds little value when members only use them to dispense cash — or already access the same services via mobile. In the May Credit Union Tracker, Chief Administrative Officer Tony Hildesheim of Redwood Credit Union discusses why CUs must strategize current and future ATM offerings to enable an end-to-end banking experience.
ATMs are known for their convenience, offering walk-up or drive-through access to financial products like checking or savings accounts. Users leave with cash in hand or have checks deposited in minutes, all while avoiding the hassle of standing in crowded, slow-moving queues to speak with human tellers. Circumventing such delays is even more important during crises like the COVID-19 pandemic, which has made social distancing and limited contact with public spaces a necessity.
True service-related issues appear when comparing legacy ATMs to modern digital banking solutions. As online and mobile channels now provide nearly all the products offered at bank branches, it has become important for financial institutions (FIs) to design consistent, end-to-end experiences across all banking channels in order to retain their customers.
“We’ve always [taken] a holistic view of our members and said, ‘Well, when do they want to go to the branch versus when do they want to be able to [bank] anywhere?’” Tony Hildesheim, chief administrative officer of the Santa Rosa, California-based Redwood Credit Union, said in a recent interview with PYMNTS. “We try to make sure our ATMs meet [their] specific needs.”
Strategies for current and future ATM offerings require consideration of the entire ecosystem, he added. Failing to understand how products fit into the larger services scope could be a mistake for FIs, especially if the focus on the customer experience is lost in the mix.
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