Banking technology doesn’t always need to be tethered to a branch. Many banks have rolled out a lone ITM miles from the closest branch. The advantage of adding a catalog of ITMs that exists outside of a branch footprint is it can develop an idea of ‘perceived presence’ or ‘perceived convenience’.
By having ITMs in locations where it is logistically difficult to justify a branch, customers have this enhanced idea of ‘perceived convenience’.
Read the article “Will ITMs Replace ATMs as the Main Self-Service Branch Channel?” by The Financial Brand.
