Business World Online: Prospects of lower earnings this year should not deter banks from investing in technology since this constitutes a cost-efficient way of servicing customers, said Ricardos Khoury, regional vice-president and head of banking division for Asia Pacific of Wincor Nixdorf, in an interview at last week's Wincor World trade fair. Self-service ATMs that not only allow depositors to make basic transactions such as withdrawals and deposits, but also print statements, scan passbooks and checks, and allow cashless payments of bills through built-in barcode readers, will entice customers to transact more with banks. Improving delivery channels such as the Internet and mobile phone as well as ATMs will help banks service the needs of their customers better, he said. "Banks can no longer afford to be inefficient or not productive. Every penny counts. [This] would rationalize their spending on IT (information technology)," he said.
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