Data-Driven ATM Strategies
New ways to collect and analyze information can boost ATM programs.
BY RICHARD H. GAMBLE
Implementing an ATM strategy is old stuff. The tools for collecting and analyzing data are new stuff, especially when artificial intelligence and machine learning are involved. High-end ATMs or interactive teller machines can do new stuff. So how can credit unions apply the new stuff to the old stuff and develop smarter ATM strategies?
It takes some work. Today, credit union leaders can see more data and make smarter ATM decisions, reports Sabeh Samaha, president/CEO of Samaha & Associates (ssamaha.com), Miami, but it’s still a challenge because the data live in disparate systems – core, card processing and online banking. “You need to see the whole picture to make the best decisions. The ideal would be automated analysis and artificial intelligence applied to a consolidated database in the cloud, but we’re not there yet,” he observes.
“Data analytics can help forecast cash needs based on usage and when to increase or decrease the cash load to ensure optimal member experience, even based on seasonal patterns,” notes Terry Pierce, director of ATM product management for CUES Supplier member CO-OP Financial Services (co-opfs.org), Rancho Cucamonga, California.
For more than 27 years, Samaha & Associates has been a leading provider of technology-driven project management, actionable insights, fierce advocacy, and innovative high–tech solutions across the financial services industry. Whether your team needs assistance with search, selection, negotiation, or optimization, we create tailored technology solutions that consistently exceed our clients’ expectations.
For more information visit ssamaha.com.
