Consumers could be able to have video chats with mortgage advisers through high street cash machines in as little as five years, ATM giant Diebold Nixdorf has claimed.
The firm’s UK boss Matt Phillips told the PA news agency it was already in talks with banks to launch self-serving ATMs which would offer basic banking services including loan applications.
He suggested these could be available within five years and serve as a replacement to full-service bank branches which have closed, allowing remaining branches to focus face-to-face customer interactions on “major transactions and financial decisions”.
He said the ATMs would complement existing services rather than accelerate the decline of the high street bank.
Phillips added: “Banks want to become more meaningful to customers – to be there for the big moments in their life.”
He also said to ensure security, these ATMs would need to be placed in smaller bank branches rather than “hole in the wall” machines.
Diebold Nixdorf has a 25 per cent share in the UK ATM market and has over two million machines installed worldwide.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS