NORTH CANTON, Ohio — A new research study from Diebold Inc. finds that consumers would view financial institutions more favorably if they offered more advanced features at their ATMs.
According to a news release about the study, consumers say they would be more impressed with banks and credit unions that offer a range of high-technology security and convenience features, such as biometric identification capabilities, movie-ticket or postage stamp dispensing, and the ability to get printed bank statements and more detailed deposit receipts at ATMs.
Consumers say their perceptions would be enhanced if the user experience at ATMs was more similar to banking online or at a branch.
Also viewed positively by consumers was the ability to use a single ATM to link all types of accounts at multiple institutions, and the availability of check-imaged receipts and itemized receipts for cash deposits.
"Consumers are increasingly technology-savvy. And this new research shows that the image consumers have of their financial institution is shaped by whether or not they are being offered the latest ATM features and functionality," said Ken Justice, Diebold's vice president of global product marketing and management.
Diebold asked consumers what advanced functionalities would make them think positively or very positively about their financial institutions.
Here are the results:
- 72 percent said biometrics, such as fingerprint-identification capabilities, on ATMs would create a positive or very positive feeling.
- 68 percent think more positively of their FI when offered a receipt/no receipt preference.
- 41 percent think more positively of their FIs when an ATM can remember user-preference settings.
- 42 percent want to customize their ATM preferences online.
- Advanced banking features that can influence positive perceptions include statement printing, reordering of checks, paying utility bills and making address changes.
- More than one-third of consumers say they want to use ATMs to obtain information or transfer funds between accounts at different FIs.
- Purchase features that could influence positive views include selling postage stamps, sending money, selling movie or event tickets, selling certificates of deposit, and selling prepaid-phone minutes.
- Buying postage stamps and movie or event tickets was the most popular purchase feature.
The survey also found that consumers view advanced features as positive, even if they don't intend to use them frequently.
Other notable findings include:
- Women, in general, and the younger demographics of both genders react most favorably to advanced ATM features such as paying bills and ordering checks.
- Screen customization generated stronger positive reactions in younger age groups.
- Setting ATM-language preferences was most important in the South and the West regions of the United States.
Market research firm Harris Interactive Inc. conducted the survey between Oct. 2 and Oct. 10, questioning more than 2,000 U.S. consumers about ATM usage, desires and perceptions.
