Mercator Blog

ATMs and Mobile Banking Are Clearly a Big Deal: Observations from the ATM & Mobile Innovation Summit
Date: September 16, 2014
Ed O'Brien
Director, Banking Channels Advisory Service
It’s clear that ATMs and mobile banking and payments are front-and-center in the minds of today’s banking customers and financial institution leaders. Today’s banks and credit unions are planning, collaborating, testing, and implementing a wide variety of products and solutions to meet the current – and future – needs of their customers and members. These themes were the explored in various presentations and breakout sessions at the ATM & Mobile Innovation Summit held recently in Washington, D.C.

In addition to attending several interesting and informative sessions on ATM and mobile innovation, I had the privilege of moderating a panel of seasoned industry experts at this event that included Mansel Guerry (CEO of CU24), Tyler Johnson (SVP, ATM/Kiosk Strategy & Innovation at Bank of America), and Wayne Malone (CEO of Citishare). These leaders shared their thoughts and experiences about optimizing the omnichannel user experience for their respective customers and members. Attendees seemed particularly interested in the panel’s impressions about the early lessons learned about their innovative solutions that meld ATMs, mobile banking, and new branch concepts.

The convergence between these vital and growing channels that have become the foundation for today’s self-service experience is both powerful and timely. Increasingly, these channels are a conduit for new and innovative payments methods designed to be offer faster and cheaper solutions to consumers.

Other topics discussed at the summit included regulatory, legal, and compliance issues, new innovations in payments, NFC, cardless authentication, the effect of virtual currency transactions on ATMs, ATM integration with mobile wallets, and the emerging opportunities for the use of biometrics in ATMs and mobile devices. Clearly there was something for everyone at this event, and expectations are high for the sharing of even more innovative solutions and implementations at this event next year.