The Convergence of Financial Institutions and Retail ATMs
Bridging The Gap Between Sectors
The convergence of our traditional ATM markets is something that is really exciting to us at Nautilus Hyosung America. The Financial Institution (“FI”) market and the Retail market have been stuck in silos since the dawn of time and are just now beginning to converge.
Now that the technology set is coming up in both of these areas, it’s really helping bridge the gap between the two sectors. We’re seeing Independent Sales Organizations (“ISOs”) get much more engaged in some areas where the larger banks have traditionally been leading. Retail operators are beginning to focus more on the customer experience and are enhancing everything across the board to provide the best possible customer experience. Additionally we’re seeing co-op relationships continue to grow as ISOs and FIs work together to reduce costs while expanding footprint through cobranding relationships.
The ISO community and the retail space have traditionally only been focused on providing balance inquiries and cash withdrawals; however, the average consumer is beginning to expect the same level of sophistication at off-premise retail locations as they get at bank branches and financial centers.
We are starting to see a lot of exciting things from card-less transaction to mobile apps, like Monimobile, which not only helps the merchants but also the ATM operators manage their ATM fleets. The rise in new technologies has given way to much more sophisticated transactions with things like dynamic currency conversion, donation programs and much more.
At Nautilus Hyosung America, we are uniquely positioned to bring both of these worlds together to ensure the best possible customer experience whether your customers are accessing their financial information at a convenience store or a branch location. We’re at the start of the most innovative time the ATM industry has ever seen and we’re excited and ready to deliver tomorrow’s solutions today.