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ATMs Add New Functionalities

Banks are upgrading their ATMs to provide more functionality and help build customer relationships.

Bulk ATM deposits are especially popular with small business owners, who often can't leave work to do their banking, Walsh explains. Additionally, they appreciate the quicker access to their funds, he points out.

JPMorgan Chase is converting its ATM fleet to "DepositFriendly" units that accept up to 30 checks at once, the bank's Holevas relates. Each new unit "calculates the total, displays the check image on the screen and prints them on the receipt — generally all within 60 seconds," she says.

Banks also are providing a personalized ATM experience. Machines now can remember users' preferences, such as their standard cash withdrawal amounts and in which languages they conduct their transactions. Wells Fargo, for example, recently introduced the "You Know Me" platform — "your top three transactions appear as quick buttons," Wells Fargo's Moore explains.

Future ATM Functions

According to Juan-Carlos Garcia, VP of marketing for Vanguard Networks, an ATM networking provider, ATMs of the future could include the ability to:

• Replace a lost ATM, debit or credit card on the spot.

• Conduct all online banking transactions that currently require a PC.

• Offer video ads — and award incentives to customers who view the ads.

• Provide live videoconferencing — for account opening, brokerage services, etc.

• Find the nearest restaurant and make a reservation.

• Offer movie reviews.

• Call a cab — or 911.

• Offer video and audio descriptions of interesting sights nearby.

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