One of the things that continues to surprise me about many banks’ multi-channel strategies is how little most banks have integrated their ATMs into those strategies. Cash machines are by far the most commonly used banking channel. According to Forrester’s Consumer Technographics data, 74% of adults in Western Europe use a cash machine at least once a month, far more than use either branches or online banking that often.
Despite the introduction of Windows-based operating systems and colour screens, most banks aren’t doing much to engage customers on this most-frequent touchpoint. Most do little more than promote the product of the month to all comers. Only a few leaders, like Singapore’s OCBC Bank and Spain’s La Caixa, have integrated ATMs into their CRM systems, which lets them do clever things like remembering customer’s normal withdrawal amount, wishing customers a happy birthday and making products offer that are relevant to that particular customer.
No! They’re not related, they’re just on our mind and topics of our latest surveys for eBusiness executives. The eBusiness and Channel Strategy research team maintains a panel that we survey online each quarter on a variety of topics (join here if you’re not already a member).
Our last survey looked at what eBusiness managers are doing about fraud in light of the recession. We found that, for the most part, fraud hasn’t increased with the recession. eBusiness leaders plan to spend $23 million on technology on their customer-facing online sites to detect and combat fraud, and they currently attribute losing 0.6% of their sales to fraud. You can read more here: The State Of Fraud In eBusiness.
This quarter, we’re surveying our panelists on their eBusiness teams’ multichannel sales and service strategy and how well their companies meet customers' needs across channels.