The vendor/client relationship
Due to the accelerating pace of ATM improvements, credit unions should partner with vendors and suppliers who can show them the best ways to use the technology, Theriault says.
“Many financial institutions fail to map out the member experience and understand how members use ATMs, and their expectations for ATM use,” he says. “We’ve run into cases where a credit union’s staff doesn’t even understand or use its own technology.”
Credit unions also err when they attempt to replicate a competitor’s “cool factor” by installing features that aren’t really relevant to their members. “It’s a ‘keeping up with the Joneses’ mentality instead of focusing on the unique qualities and expectations of their own members,” Theriault says.
On the other side of the vendor client relationship, Theriault says years ago an original equipment manufacturer would sell an ATM box, install it, accept payment, shake hands, and then say goodbye to the customer. “You can’t do that these days,” he says. “For one thing, the pace of technological improvements means the manufacturer has to stick around and anticipate future developments, such as Microsoft ’s decision to discontinue supporting Windows 7 by 2020.”
The most common feedback Bailey hears from satisfied credit union clients that have installed advanced ATM technology includes:
Recent significant soft ware enhancements and advances drive much of NCR’s ATM innovation, according to Bailey. “Ours isn’t a switch from a focus on hardware so much as an enhanced focus on its operating system and capabilities,” Bailey says. “We’re laser-focused on the credit union market.”
The technology now available for ATMs excites Bailey. “That’s because much of today’s ATM environment is based on old technology that leaves the machines vulnerable to hacking and malware,” he says. “Our Kalpana technology is the industry’s first thin-client, cloud-based soft ware. It simplifies the process of changing capabilities, and resists malware because it’s in a more secure environment. As a consequence, operating costs come down dramatically.”
Adapting Android for wearable mobile device capability has been another significant advance, Bailey notes.
“Consumers’ demand for these capabilities is greater than ever,” he says. “Don’t insist on preserving yesterday’s more comfortable business methods. You have to keep up with innovations. Fortunately, credit unions are in an industry that likes to share insights and ideas.”