According to ATM Marketplace, a recent Wincor Nixdorf Branch Transformation Study predicts that in 2017, banks worldwide will invest approximately $16 billion in branch transformation and related technologies. The study “Integrating the Branch in the Digital World,” was conducted by IT market research and consulting company International Data Corp. Wincor Nixdorf manufacturers high end ATMs and branch automation technology. They are more popular throughout Europe than the US and Asia with only a small percentage of units in operation in the United States.

Jens Bohlen, a member of the Wincor board of directors presented results from the study at the company’s international management seminar Oct. 22–24 in Istanbul. Bohlen said that the bank branch continues to be a valuable delivery channel, but it must transform itself.

According to the study key factors in the success of branch transformation projects are – differentiation in branch type within the branch network,  improved customer experience, and quickly and easily carry out teller transactions.

“Worldwide demand for automation technology is rising,” said Wincor CEO Eckard Heidloff. “We want to support banks around the world through software in particular in implementing branch transformation projects, optimizing omnichannel sales and improving the customer experience.

Not only do branch, online and mobile channels need to offer perfect service individually, but they also must be completely integrated into the digital world, which is where more and more customers spend their time and manage their banking business.

It’s an enormous challenge, but experience shows that customer satisfaction increases when the branch infrastructure is improved, the release said.

“The results of the IDC study suggest that an optimally positioned branch network and the use of the latest technology can bring a 25 percent increase in customer contacts with a simultaneous gain in efficiency of around 30 percent,” Bohlen said.

Best Products has over 16 years of experience selling and servicing cash automation equipment. Best Products provide a full line of ATM solutions, coin & currency processing equipment, self-service coin kiosks, and check processing equipment and software.

Managing cash transactions can be a costly, time consuming process for financial institutions. Teller cash recyclers and dispensers and other desktop cash automation systems can make your branch operate more efficiently.

 

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