Automated teller machine flat color vector illustration. Smiling man near cash kiosk cartoon character with street on background. Financial transaction software. Self service electronic equipment Source: AdobeStock

Credit unions and banks have been slow to adopt Interactive Teller Machines (ITMs) since they first came on the scene in the early 2010s, however, satisfaction levels with ITMs have been high among both consumers and financial institutions and use of the technology is expected to grow, according to a new study from Adrenaline, a brand experience company serving the financial industry.

The study, which was primarily based on a Q4 2020 survey of 500 U.S. bank customers and credit union members and a Q3 2021 survey of 364 U.S. bank and credit union professionals, found 84% of all consumers were somewhat, very or extremely satisfied with their ITM experience and 60% of financial institutions plan to deploy ITM technology in the next three years. In addition, Adrenaline found 86% of millennials were “very comfortable” using ITMs and even 72% of consumers over 55 were; 31% of all consumers said they preferred using an ITM to going into a branch.

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Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.

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