An unreliable automated teller machine network could prompt customer defections, according to a study released Monday by Level Four Americas LLC, a Charlotte provider of ATM software.
Level Four said that 45% of consumers would be likely to switch banks if they did not consider their bank's ATM network reliable, and 28% would be very likely to move if they experienced recurring ATM outages.
The study was conducted by Harris Interactive.
A similar study in the United Kingdom last year found that unreliable ATM access would prompt 38% of consumers there to consider moving banks.
"Savvy financial institutions will focus on improving customer retention. Monitoring and testing solutions can improve ATM network uptime and reduce consumer frustration that leads to lost revenue," Steven Lund, Level Four's president, said in a press release.
