How Can Financial Institutions Attract the Growing Demographic of Younger Consumers?
With 40% of account holders using ATMs at least once a week, and 8% using it more than once a week, maintaining ATMs in high-traffic locations has become increasingly important.
Research suggests that with the rise of the Millennial lead workforce, having ATMs in convenient locations is even more essential in order to retain this generation of instant gratification seekers. Studies have shown older generations are found to be more willing to travel further to access an ATM for their banking institution whereas younger generations are not.
Younger generations are also shown to be interested in more advanced functions of ATMs. These new functions may require costly upgrades to software as well as hardware for outdated ATMs.
However, you don't have to continue to upgrade your ATM to follow these trends. Many banks, and credit unions have thus turned to ATM Outsourcing to ensure their financial institutions have ATMs not only compliant with current regulations, but also can be capable of the most technologically advanced functions in order to best service their younger customer base.
At AOne ATM we offer a full complement of on-site and off premise ATM management solutions, which eliminates up-front costs, controls operating expenses and removes the burden of regulatory compliance for financial establishments.