Isn’t It Time for Financial Institution Technology to Get Smart

The Challenges of Current Technology

The major challenge of current transaction delivery technology is that it lives one generation behind what most have migrated to today. Financial transaction delivery technology continues to lag behind what is currently available today. The initial ATM was a purely standalone product taking transaction and available balance form the ATM Card. The next evolution followed current networking technology where the client dumb terminal ATM received all of its function commands for a central server connected by expensive leased lines. This ATM client terminal connected by expensive leased lines to a central control server developed over 30 years ago continues to be the current standard with some minor changes. The introduction of Windows based software in Windows XP added an industry standard allowing for some cross manufacturer standardization in function. The introduction of Windows 7 provided the opportunity for NCR to develop new software migrating some of the functionality to the ATM allowing it in cases to act in the server role. The challenge remains with the fact that Financial Transactions delivery technology remains at least one evolution behind what is commonly used by industries today and what consumers have grown to expect. This lag in technology has not only restricted introduction of new capability but caused development and management costs to remain high.

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Current Systems

The current systems and methods used by ATM suppliers are old, difficult to manage and expensive compared to the technology and solutions available today. These systems are delivered as completely separate nonintegrated purpose built products that force Financial Institutions to incur the costs and headache of managing many differing products using expensive service delivery methods. The requirement of ever changing industry compliance initiatives has also placed the focus on development in remaining current with these items inhibiting the development of new technology and reducing available funds to invest in new more efficient technology.

Introducing New Technology

Introducing new technology in the current system is difficult at best the challenges of reinventing the wheel every time new technology is introduced is a daunting and expensive task. The process of introducing even the simplest of functionality requires a long painful process. In the case of a completely new technology like remote teller this is an almost impossible task. The process for the Financial institution includes the manufacturer getting the product certified by the institutions network, a major IT project, providing “customer suppled” supporting technology which is normally a painful and expensive process. The end result after all of this pain and expense is yet another disconnected system that is difficult and expensive to maintain.

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The Power of Integration

The process of integrating products to deliver a new solution has been used for many years. It is part of almost every good or service businesses produce and consumers use today. These range from the cars we drive, the homes we live in and the simplest food items like a pizza. All of these use the same principle, obtain the best possible products or ingredients then integrate them into a great solution. The benefit of integration is that it provides a superior solution, with the best possible convenience and the greatest value. The latest technologies enabling integration are cloud based technology and wireless connectivity. Cloud based technology allows for a simple centralized warehouse and connectivity point to easily introduce new solutions to any number of end devices and users. It provides the security of multi redundancy and reduced costs over a single server. Wireless connectivity has progressed the point where it is preferred by most consumers for its availability and value. This technology is referred to as smart technology and it is quickly becoming the preferred solution for a growing number of industries that include communications, medical, auto and home.

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Smart Solutions for Financial Institutions

The FINTECH Company Automated Transaction Delivery has developed the next evolution for financial institution technology. Their Cloud Based wireless technology based system is the smart solution for Financial institutions enabling the latest technology at the best possible value thru a fully integrated consumer service delivery solution. An integration is only as good as the ingredients you use and ATD’s consists of solutions by industry leading technology providers in Nautilus Hyosung self-service solutions, Ventus Wireless Communications and ELAN transaction processing to name a few. The ATD solution provides a fully integrated solution that follows the consumer from mobile device enablement thru advanced transaction delivery.

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Mobile Integration

Mobile technology is preferred by consumers today and must be part of a complete integrated solution. The consumer service process starts here and incorporating the latest mobile marketing technology will get you noticed first and get consumers to your consumer service locations. Mobile Technology is one of the most cost effective solutions to reach consumers and to be fully effective you must consider each consumer service location as a separate entity. This includes Branches, LBO’s or just self-service ATM locations.

Personal Service Technology

Many advocate for the complete removal of personal service from the FI’s long term solution. Automated Transaction Delivery believes that personal service must continue to be an important part of consumer service for the foreseeable future. Enabling the migration of personnel from the focus of transaction delivery to consumer service is the goal of this integration. The Nautilus Hyosung line of Cash Recycling technology enabled by our integration offers industry leading solutions including High Capacity, Enhanced Capacity and Self Service recycling allowing for superior cash management in any type of environment.

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Self Service Technology

Traditional Self Service Devices will continue to be an integral part of any transaction delivery solution but they are only as good as the technology that enables them. Simple cash delivery continues to be the leading service required by consumers and cash continues to be the leading preferred form of payment. Enabling these devices to migrate from simple cash dispensers to marketing machines with remote managed marketing messages will improve brand awareness and drive interest in product and services offered by the Institution. Deposit Automation enabled self-service will provide additional convenience with 24X7 availability of deposit functionality at a fraction of the cost of traditional teller delivered service.

Assisted Self Service Technology

There are many solutions being introduced to the market today that promise to reduced operational costs by migrating transaction delivery from the traditional teller to technology. Most solution providers continue to find their way moving from one solution to the next and developing solutions at the Financial institutions time and expense and promising hard to develop functionality on unreasonable timelines. The ATD Assisted Self-service solution is based on one proven method that is being rapidly adopted by the retail industry. We have developed an expanded set of self-service transactions enabling 70%+ of consumer transaction delivery to completed 24X7 with no labor required. Our assistance delivered via video conferencing supported remote controlled transitions enabled by our cloud based wireless integration allowing for teller and delivery device to be easily located anywhere.

Branch Transformation Technology

Our technology and integration ranges far beyond the transaction delivery we provide integration of all of the solutions required for complete Branch Transformation. Most current product suppliers can provide part of the complete Branch Transformation solution. This results in completely segregated products that are difficult to manage and impossible to integrate. Automated Transaction Delivery provides a single source completely integrated solution for all solution which is likely the only true Omni channel solution available today.

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Integrating New Technology

Introducing new technology to existing delivery devices or into an entire echo system is very painful and expensive process using traditional supplied methods. The current introduction of remote and teller replacement solutions general require 6 moths to 1 year of development and in excess of a $250,000 investment just to implement. The additional challenge is that these are introduced to the FI’s consumers while being developed leading to consumer confusion, hesitation and frustration with this new technology. The ATD solution with our cloud integration technology allows for a majority of the development to take place in our controlled lab environment then Financial Institution acceptance testing in advance of being available to the public. This process is enabled by the flexibility of wireless communications that does not rely on expensive fixed infrastructure and can be easily migrated for lab to UAT then Live environments.

By Customer Request or Just Technology advancement

Automated Transaction Delivery Is Always Integrating

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Smart Solutions for Financial Institutions

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For Further Smart Solution Information

atd-solutions.com     [email protected]         518-424-2637

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