Coming soon to an ATM near you: imaging checks as you deposit them. Wells Fargo and BofA have been testing image ATMs over the last couple years and are now committing to roll the new technology out nationwide. Customer benefits include no envelopes, faster clearing of image transactions, and later deposit cutoff times.
- Wells Fargo announced last week that they will be image-enabling 200 existing machines and replacing 200 more iwth image capable machines by the end of the year. This is in addtion to 60 Bay Area test machines that are already operable. Wells plans to image enable all 6,500 ATMs in 23 states over the next 2-4 yrs.
- BofA expects to have 1500 image enabled ATMs by the end of the year. They have had 63 test machines operating in the Carolinas.
- JPMorgan Chase has been testing approximately 20 image enabled ATMs in the midwest but has yet to announce a rollout.
- You may recall from an earlier post that 7-Eleven's banking kiosks already have image capability.
Wells, BofA Equipping ATMs to Work with Images
By David Breitkopf
American Banker (subscription required)
Tuesday, May 30, 2006
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.