According to Aspy Engineer, president and country head (ATM management and currency chest) at YES Bank, all the transactions at ATMs apart from the banks will be a change in trend. “Since the operational profitability of the ATMs has been under pressure, the idea is to increase the transactions that happen across ATM branches to boost volumes and make it profitable.”

Like all other banks even YES Bank is looking forward to introducing several value-added services at the ATM, one of the features include mobile number updation too. Now you can even update your mobile number by just visiting a bank branch. The cost of running ATMs has also shot up as they have implemented several security measures for customers. For implementing these additional security measures the cost for each bank can go up higher every month.

According to Monish Shah, senior director at Deloitte in India introducing more features will come a long way in improving the profitability of these channels. “ATM and such alternate channels are turning out to be the preferred channels to reach the masses and this is the channel that we are likely to see players focusing on in the near future. Therefore, such inter-operable features will be an advantage for the banks.”