Catalyst News

Will ATM/ITM Usage Continue its Upward Trend Post-Pandemic?

by Catalyst Corporate | Jun 22, 2021

These days, every deposit touchpoint counts. In addition to accelerating digital strategies and forcing increased usage of online and mobile banking, social distancing measures have caused some financial institutions to re-evaluate their branch footprints…and it seems there’s no turning back.

Remote deposit capture services have flourished during the COVID-19 pandemic, making their availability even more important at credit unions nationwide. But where do things stand with the latest ATM/ITM Capture trends?

Despite a short-term dip amidst the U.S. pandemic shutdown, ATM usage appears to be climbing again, with the latest data showing a 10 percent increase in cash dispensed over June of last year.

Furthermore, a recent Financial Brand article claims that “with branch use likely to continue to be limited, and a cashless society not yet here, modern ATMs may prove even more valuable.”

It appears ATM usage will continue its trajectory for the foreseeable future. What about interactive teller machines (ITMs)?

Increased popularity of self-service, video banking options – like ITMs – is on the horizon, according to the latest trend forecasts. Unlike ATMs, installation and use of this type of remote deposit technology increased during the pandemic.

With a remote teller service like ITM Capture, you can perform many of the same functions as at the teller window, such as depositing checks, getting cash and transferring funds. This enabled members who crave face-to-face communication to talk to tellers through video with a safe, interactive and engaging deposit alternative.

Today, an ATM/ITM service solution should combine technology and personalized service, with outstanding back-end support. To see this in action, request a demo here

Comprehensive solutions, like Catalyst Corporate’s TranzCapture™ ATM/ITM/Intelligent Kiosk deposit services provide a single administration hub for all digital deposit applications. Additionally, TranzCapture is packed with cutting-edge features that support credit union ATM/ITM remote operations and boost member service.

The benefits of this all-in-one remote deposit service include:

  • Increased member convenience with self-service technology
  • Automated secure image files transmitted for processing in real-time
  • Check data and dollar amounts automatically imported from MICR line
  • Remote implementation and ongoing assistance from expert support team
  • Consolidated back-office reporting and research
  • Real-time duplicate item detection across all TranzCapture channels for 60 days
  • Enhanced risk-mitigation features with flexible deposit review settings for location, batch count, batch amount and single item amount
  • Real-time and/or batch deposit fraud warnings
  • …and more!

For additional information on Catalyst Corporate’s ATM/ITM/Intelligent Kiosk deposit services, contact us today.