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The retail banking industry is a whole different game than it used to be - deposits are on the decline, transaction costs are increasing, and client expectations are always changing. Financial institutions are in need of a solution: one that provides customers with the personal touches they require for a positive experience without requiring a costly 1:1 interaction with a teller or associate just to complete a simple transaction.

You may be thinking, isn't this what ATMs are for? If so, good question. ATMs were the first shot at self-service machines, and while revolutionary, they are no longer smart enough to get the job done right. Capable of handling only the most basic of transactions, like pulling cash in $20 increments, these machines regularly let costly, simple transactions through to your line of tellers and associates - simply because they aren't as self-service as they claim to be. For example, an ATM can’t print a cashier’s check or dispense cash in any denomination, meaning these transactions still fall on your staff and distract them from profitable interactions.

So basically you've invested a lot of money into ATM's, yet your teller line is still filled with people needing things like cashiers checks, or to have a $50 bill broken into $5 bills.

Stop and think... how self-service are ATMs really?

It's time for ATMs to move over, because we created a better solution, and we call it NEXT: a self-service machine that provides your clients with the power to complete almost any transaction a teller could have assisted with, on their own. With a simple interactive display and a module built to feel private, yet approachable, clients can:

  • Log-in using their debit card, driver’s license or even by scanning their eyes
  • View account activity and print account history and receipts

  • Deposit cash and checks, as well as withdraw cash in any denomination

  • Make change, to the penny

  • Print cashier’s checks

  • Transfer money between accounts and pay bills

  • Request assistance with the click of a button

  • And more!

Not only does this make the branch experience easier and more modern for your client, but it saves you a lot of money. By handling the mass amount of simple transactions, self-service technology keeps your associates available for more high-value interactions, like setting up a new account or fitting clients for a loan.

And unlike traditional ATMs, part of NEXT’s hardware choice includes re-purposing cash dispensers and recyclers that you already own. These mechanisms are the heart of every self-service solution for cash processing, so through re-purposing the cash automation you already have in place, you save cost, gain flexibility in design, and can provide different levels of self-service based on the true needs of the specific branch or location. It also provides a smoother path to upgrade, add and delete as those needs change.


Want to learn more about how NEXT, and other self-service technologies, help your branch tackle low-value, high-cost transactions? We created a playbook for that. 

Download Playbook