During Covid, routine transactions were forced out of the lobby and the ATM and video tellers were able to handle the increased volume.
In the future, with consumer now comfortable with using more self-service, we should see continued demand for not only cash recycling ATMs but video teller technology.
Banks and CU saw a 5-fold increase in of video call volume after Covid-19 began
Pre-Covid, one ITM provider’s 5,000 plus banker survey interest level in video. This has accelerated post Covid
Pop i/o video clients as of April 21st up from 52 at the beginning of March
Banks and Credit Unions have seen surging video call volume increases during the pandemic. Closed lobbies have shifted volume to the drive thru and to digital channels. Creditunion.com highlighted 2 CU cases and supplier demand:
What is driving growth?
Migration of routine branch transactions to reduce costs will continue after Covid. Customer comfort level with using video tellers to withdraw cash or deposit cash or check with the option of assistance has won many consumers and small businesses over during the pandemic. Eliminating cash denom exchanges in the branches is also critical to reducing costly routine transactions.
We recommend banks and credit unions leverage trust accumulated during this crisis to offer clients a choice, self-serve of assisted video tellers.
ATM Integration Needed to Lessen Teller Withdrawals
Reason for selecting a bank teller over ATM. Past 30-day cash users.