Forrester Blogs » Category: ATM

Why Don't Banks Make More Use Of Their ATMs?

Posted by Benjamin Ensor on the eBusiness & Channel Strategy Professionals Blog on September 9, 2010

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Benjamin Ensor

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.

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Bank of America Uses Online To Keep Free Checking Free

Posted by Brad Strothkamp on the eBusiness & Channel Strategy Professionals Blog on July 15, 2010

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Brad Strothkamp

Bank of America is launching a new eChecking account that has no minimum balance requirement. The twist is that in order to avoid the $8.95 monthly fee customers must enroll and receive eStatements versus paper and make deposits and withdrawals using ATMs versus a teller.

The development of an eChecking account is not new, but the Bank of America offering differs from forays into this area in the past because:

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Wells Fargo Provides A Real-World Cross-Channel Example For eBusiness

Posted by Brad Strothkamp on the eBusiness & Channel Strategy Professionals Blog on April 21, 2010

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Brad Strothkamp

“Cross-channel” is a term (or shall I say a buzzword) that is thrown around by many and understood by few. Seldom does a week go by that a vendor or client mentioning their objectives or strategy doesn’t throw out “cross-channel” or “multi-channel” or something along those lines.

With this in mind, I have made it my personal goal to seek out real-world examples of cross-channel at work; examples that have a clear benefit both to a customer and to a provider. Progressive Insurance’s cross-channel save and retrieve functionality is a great example of cross channel at work that I have written about before, but I recently came across another:

 Wells Fargo offering customers the opportunity to email ATM receipts to their email address on record.

This feature gets at the heart of a concept I have been thinking about for a while; the concept that the Web can have a role to play in enhancing offline processes that already exist. I mean the emailed receipt doesn’t replace the trip to the ATM, but it does make it better by:

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