Independent ATM Deployers are a critical part of the ATM ecosystem. These front-line businesses provide access to cash in areas deemed too risky by financial institutions. The market for IADs has changed significantly in recent years, both in negative and positive ways, such as declining cash usage, rising AI tools and advanced ATM features.

In today's episode of the Bank Customer Experience podcast, Bradley Cooper, podcast host and editor of ATM Marketplace, spoke with Todd McEwan, president of New England ATM, an ATM service provider based in the New England states, about what the past and present landscape is like for IADs.

One fact he pointed to was that the market for IADs has changed significantly. He said in 2008 it was very common not to see ATMs in convenience stores, but now the market has matured and one can find ATMs in gas stations and convenience stores around the U.S.

Over time, the valuable locations have changed as well. Hotels and hospitality were highly sought after in the early 2000s, as customers would often withdraw cash to tip taxis, but with the onset of Uber and other ridesharing apps, this has cut into the market. McEwan said the current most valuable locations for IADs are "vice" locations such as cannabis dispensaries, liquor stores and other shops of that nature.

Of course, by installing in locations like these, IADs also have to think carefully about security. He pointed out that on average, his business loses "$7,000 to $10,000" annually due to theft, and he has to consider that a "business expense." In some locations, he doesn't stock the ATMs with a lot of cash due to the risk of theft. For loss prevention, he said it's important to bolt the ATM to the floor and keep it away from easy access such as doors and windows.

McEwan discussed a number of other topics of importance to IADs including:

• How is cash usage trend impacting the business?
• What's good tactics for dealing with banking relationships?
• How feasible is it to provide more advanced features for an ATM as an IAD?

Listen to the discussion in its entirety above.

How many FIs have a relatively high efficiency ratio? In other words, how much do they have to spend to make $1? Scott Fieber, chief strategy officer, said he was shocked to find out that "over 12 % of all institutions in the United States are over 90%." This means that these FIs had to spend more than 90 cents to make $1.

Fieber and Scott Smith, chief strategy officer at Cook Solutions Group, joined Bradley Cooper, editor of ATM Marketplace, to discuss this issue and how banks can reduce their ratios in this episode of the Bank Customer Experience Podcast.

Fieber and Smith emphasized the importance of starting small with this issue, as even reducing ratios by 2% could make a big difference to one's bottom line. That money saved can then be used for strategic initiatives.

"Instead of spending that money on inefficient practices and doubling down on bad purchases and bad protocols, now we've got some money. Let's free it up to do the fun stuff," Fieber said.

One way to improve this ratio, according to Smith and Fieber, is to take a look at one's vendor relationships and ask basic questions such as:

• Are we experiencing vendor creep?
• Are multiple departments using different vendors, where we could use one?
• Is there a vendor we could partner with to handle multiple aspects of our business?

When asked how FIs can begin addressing efficiency ratios, Fieber pointed to hosting a strategic workshop where banks can gain some "nuggets" that could start some ideas.

"Why is a strategic workshop so important? It's important for the FI individually, but it's also important for the FI to involve their partners so that they understand the strategic layout of what their partners are doing too. Hey, what's on your roadmap? Does it align with ours? I think those are all conversations that sometimes get overlooked that are very, very valuable," Smith said.

Cook Solutions Group created a guide called A Strategic Guide for Banking Executives: 10 Questions for Banking Executives, which FIs can use during these workshops to jumpstart conversation.

Fieber said the guide can "at least get you started if you're kind of stuck on a home plate, not sure where to go."

Listen to the entire conversation above. Click here to download Cook Solutions Group's free guide.

When many banks were scoffing at the idea of online accounts, First Internet Bank was embracing the internet head on. Founded in 1999 as a branchless financial institution by CEO and chairman David B. Becker, the bank struggled through the early days of dial-up, but also maintained its vision.

In today's episode of the Bank Customer Experience podcast, Becker joined Bradley Cooper, editor of ATM Marketplace, to discuss the history of the bank and where it's headed in the age of AI.

Becker said the bank has often been criticized for not having the advantages of a branch, such as being able to go in and talk to a dedicated banker. However, First Internet Bank integrated a chat feature to allow customers to select a banker by name as their main point of contact. This reflects the bank's vision of still embracing technology without neglecting the human element.

He said this is the same principle as AI, as First Internet Bank uses AI, but remains dedicated to employees improving their work through AI, rather than replacing humans with AI agents.

During the discussion, Becker provided insights into several topics including:

• The founding of First Internet Bank.
• How it handled early internet pain points.
• The pros and cons of being branches.
• AI innovations.
• How fintech is evolving.

Listen to the full discussion above.