Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

INETCO WHITEPAPER – UNLOCKING YOUR ATM BIG DATA

by Brad Zaytsoff

Have you been to a conference recently where they had a session on Big Data?

Have you watched a webinar or downloaded a whitepaper about unlocking your Big Data?

Are you looking for a little less talk about why you need Big Data, and a little more information on HOW you can derive actionable intelligence from it?

Good—because in this week’s post you’ll learn how you can easily access your ATM Big Data, and how it can provide actionable intelligence to lower operational costs, generate more revenue, and improve customer experience.

If you are in retail banking it is likely that you are investing in more sophisticated, interactive ATMs to handle a greater number of transactions traditionally carried out by costly tellers (mortgage applications, account balance inquiries, check deposits…). These expanding services and the growing number of customers choosing self-service options are resulting in an explosion of (big) data available from your ATM network. The key is finding a cost effective way to access this data, a method that doesn’t require you to assemble a war room of specialists and data extraction tools before you are able to generate actionable intelligence.

Fortunately, a real-time transaction monitoring and analytics solution can help retail banks and credit unions easily access and process ATM transactional data so they can make better and more timely decisions. This type of banking software platform captures the Big Data flowing across your ATM networks and provides a centralized deposit of rich transaction information. Its analytics engine enables you to produce customized statistics and key performance indicators—actionable operational and business intelligence that allows you to:

Better serve your ATM customer:

  • Analyze uptime and availability statistics specific to ATM, switch, 3rd party service connections, and card type
  • Generate automatic reports on number of incidents reported by end customers
  • Understand customer usage by card type,  service type and ATM terminal location

Reduce ATM support costs:

  • Track payment failure rates by root cause
  • Analyze approved/declined/failed transactions by card,service type or ATM terminal ID in real-time
  • Quickly assess the direct business cost associated with system downtime and loss of business

Improve ATM channel profitability:

  • See hourly withdrawal and deposit transaction information to pre-emptively respond to cash-low events for busy ATMs and new cash point scenarios
  • Create marketing campaigns based on which competitor cards are using your ATMs, “on us” versus “off us” transaction comparisons, and the most popular value added services
  • Get a breakdown of customer transactions by ATM such as withdrawals, deposits, inquiries, bill payments, transfers and other value added services; understand failed customer transactions by value of service revenue lost

INETCO WHITEPAPER – UNLOCKING YOUR ATM BIG DATA 1Transaction monitoring and analytics solutions provide access to a wide range of customized ATM service and cash management statistics to help retail banks manage targeted campaign performance, enhance the profitability of their ATM channel, and ensure important customer interactions are secure and reliable. ATM channel managers and marketing teams will learn to love Big Data as it helps them make better business decisions regarding ATM locations, service offerings and card bases. Operations teams will be able to produce a wider array of customized alerts and performance statistics that lead to improved service availability and reduced support costs. Granular usage information such as which transactions were more common at a particular ATM, how much service revenue was produced, how many banking transactions were successful, or how many were unsuccessful provide a centralized easy way to listen to how your ATM network is performing.

For more information on how you can generate actionable intelligence and learn to love your ATM Big Data, download this complimentary whitepaper