Although ATMs are becoming more prominent, they are still far from perfect. In this case study, I will be evaluating the ATMs found in MIT's Stratton Student Center, addressing problems encountered through the experience and presenting possible solutions.
Background
Automated teller machine (ATM) is an electronic kiosk that allows users to preform financial transactions, such as cash withdrawals, deposits, and transfers, at any time without the need for direct contact with a bank teller.
These days it seems like ATMs can be found in every corner. The role of the ATM is growing each year, with an estimated 3.2 million units installed in 2014 and the numbers are expected to grow to over 3.5 million by 2020. This rapid spread of ATMs is not surprising given the many benefits that they provide their users.
Benefits
Offered as an alternative to going to a bank teller, ATMs provide users convenience, and a faster option while allowing banks to employ their tellers for other tasks.
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The main benefits are:
- It saves times. Using ATMs means you don't have to stand in line at the bank or fill out a deposit slip.
- Open 24/7/365. Unlike banks which have specific hours and are closed on holidays, ATMs can be used at all times.
- Widespread. ATMs take up very little space, which means they can be more widespread and readily available.
- Personal Support in other tasks. ATMs allow banks to employ their tellers in specialized tasks that provide one on one support for their users, such as initializing new customers or meeting with clients seeking loans.
Basic Features
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ATMs include 5 basic features:
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Procedure
ATMs typically have 4 main steps:
Users are guided by instructions given on the screen and flashing lights, making the process easy to follow.