Will pandemic-era use cases cause an interactive teller machine rebirth?

The all-in-one hybrid ITM channel may find new purpose post-COVID.

For the foreseeable future, credit unions and their members will be navigating the twisty road of COVID-19 recovery. Hybrid banking models seem to be the most workable strategy for the time being (and probably well into the future). Enabling a mix of digital engagement and face-to-face interaction, hybrid models keep everyone moving forward safely and effectively while providing an engaging and personalized member experience.

In this amalgam environment, the interactive teller machine could experience something of a rebirth. As an all-in-one hybrid channel, the ITM provides the ideal human-machine combo that could solve some of the emerging pandemic-era use cases. That said, credit unions must develop a well-defined strategy to increase member engagement in digital channels. Fortunately, the increasing availability of data is making the prospects of planning a much lighter lift.

ITM Strategy Steps for the Pandemic-Era Credit Union

Building any strategy, ITM or otherwise, begins by determining which problems the new approach is hoping to solve or which opportunities it is looking to exploit. An example relevant to ITM strategy is to increase member engagement in digital channels to alleviate pressure on the still-turbulent branch channel.


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