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How do we as credit unions marry ATM technology growth with enhanced member service?

ITM Technology

By Joe Woods, CUDE

SVP, Marketing & Partnerships

Technology continues to grow and expand across all markets and industries including the financial sector. In line with this technology growth, financial markets are also seeing a continued shift in service strategy. So, how do we as credit unions marry this technology growth with enhanced member service? One approach that continues to gain traction is the use of the ITM.

ITM technology can improve self-service and increase remote access while sacrificing very little in the way of member contact. Furthermore, the new technology can yield benefits such as helping to shrink costs by reducing branch size and staff needs, extending member service hours and improving self-service all while boosting operational efficiency.

Still a bit unsure of what an ITM does or how it compares to an ATM? You’re not alone. The lines are a bit gray, but understanding the differences is crucial for building an effective ATM-ITM fleet strategy, particularly in a financial services environment that continues to shift towards digital delivery and self-service. While typical ATMs can give your member’s cash and even take cash and check deposits, the ITM takes it a step further. In general, think of an ITM as an ATM with mobile banking access. It’s a fully self-contained self-service unit that enables a credit union to provide powerful account and resource access to its members without the need for a branch. The ITM can provide additional functionality outside your typical branch operating hours and even serve as a replacement for a branch in certain scenarios. Looking to expand into new markets? You can start with a well-placed, well branded ITM to gain traction, prior to a branch deployment.

How, where and why you should consider ITMs is a longer discussion that involves your mid-to-long term road map and branch strategy as well as an ATM-ITM organization that you trust as a true consultative partner. While it is important for your credit union to decide on a strategy and path, it is just as critical to have a partner provide consultation as part of a discovery to help design a plan that fits your growth strategy, member base and budget.

Whether you are considering ITMs for your next move, wanting to provide members with functional upgrades or in need of ATM replacements due to upcoming ATM models being sunset, Dolphin Debit can provide the expertise to ensure the technology you deploy best fits your plan. We outsource over 2,500 ATMs across the country for credit unions just like yours. Our parent company, Euronet Worldwide (Nasdaq: EEFT) brings a depth to the U.S. payment space that no other organization has. In addition to outsourcing 50,000 ATMs globally, our client base is led by names such as Amazon, Apple, Microsoft & Paypal. Working with Dolphin & Euronet dramatically improves your payment and technology capabilities. The NCOFCU can connect you today for scheduling a discovery call.  Time well spent will translate into money saved.  

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