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ITM Growth Expected as Consumers, FIs Report Satisfaction: Study

Brand experience company Adrenaline also identifies core integration as a key to ITM efficiency.

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

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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