Smart Self-Service Banking: Insights from Industry Leaders

In an increasingly digital banking landscape, smart self-service strategies have become instrumental for financial institutions aiming to balance customer experience with operational efficiency. 
Despite this reality, in-person is still an essential part of the overall banking experience. At BankSpaces, self-service banking leaders shared insights on developing effective banking solutions, a critical pillar that supports the holistic branch experience. 
The panel, moderated by Ben Spann of NCR Atleos, also featured Brendan Watkins from Truist and Chad Bruhn from Capital One, each bringing unique perspectives from different corners of the financial services industry.

The Strategic Role of ATMs

"ATMs still serve as a strategic arm for our branch teammates and bankers," said Brendan Watkins, who leads ATM and teller channel strategy at Truist. He emphasized their approach of using ATMs for the "heavy lifting" of transactions while positioning them strategically within branches.

Watkins highlighted Truist's "three Ds" framework—digital, deepening, and deposits—noting that ATMs uniquely bridge the physical and digital worlds.

"It's the only channel within the branch where you can have a digital experience where you authenticate with the client, pull up their profile, start their transaction, and then end with either dispensing physical media or accepting a deposit," he said.

Reimagining Banking Spaces

Bruhn, Head of ATM and Cash at Capital One, shared the bank’s innovative approach with their cafe network, which represents their growth strategy moving forward. "Our cafes have been designed as community destinations," Bruhn explained. "If you haven't been into a cafe, a lot of times you don't realize that you're inside a bank."

Unlike traditional branches, Capital One's cafes direct all financial transactions through ATMs. "Our associates, our cafe coach and ambassadors are not allowed to do any kind of physical transaction," Bruhn noted. This model places tremendous importance on ATM reliability and functionality.

Expanding Self-Service Outside Traditional Branches

Both banks have found creative ways to extend their reach without investing in costly branch infrastructure. Truist strategically places ATMs in high-visibility locations, including competitor-dense areas and university campuses. Bruhn described Capital

One's partnership with the Allpoint network, which allowed them to scale nationally without massive capital investment.

"Within a day we were able to scale to 3,500 locations across the US where our customers could go to an ATM and deposit cash," Bruhn said, noting that more than half of Capital One's cardholders now use third-party ATMs for transactions.

Enhancing CX

When asked about priorities for customer experience, both leaders emphasized reliability above all else. "The number one thing customers want is reliability," Bruhn stated. By focusing on dependable service and implementing cash recycling across 70% of their network, Capital One rose from #14 to #1 in JD Powers customer satisfaction for the ATM channel.

Watkins stressed the importance of innovation in the ATM experience, highlighting Truist's focus on segment-level access for small business and commercial clients. "Multiple denominations is key," he added. "Telling someone they're going to walk up to a device and get ones out blows their mind."

As financial institutions continue evolving their distribution strategies, self-service channels remain a critical touchpoint for customer engagement. The insights from these industry veterans demonstrate that successful self-service strategies blend reliability, innovation, and strategic positioning to enhance the overall banking experience.

Watch the full discussion below 👇