The role of ATMs and self-service in post COVID-19 retail banking
The COVID-19 pandemic has dramatically altered the retail financial services market. The crisis accelerated the need for drastic changes in physical interactions while shuttering many branches and driving consumers to self-service while intensifying the need to control costs and improve asset utilization. While the nation emerges from lockdown at varying speeds, the need to accelerate the shift to self-service models is critical for the health and peace-of-mind of associates and customers alike.
How will the retail banking space respond in the quest for a “new normal?” What options will banks and credit unions follow to reduce costs in a lower revenue growth environment while maintaining high service levels where physical interactions are discouraged or even feared?
1. The conundrum of delivering high-quality service in a self-service environment
2. How the ATM came to play a central role during and after the pandemic
3. The effect of the ATM in enabling safe physical self-service while reshaping the future of retail banking