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Digital technologies are changing the way customers interact with their financial institutions. Transactions that were once made exclusively in person, are now being handled virtually. Financial forms that used to require pages of paper are now comprised of pixels.
While there are certain advantages to transitioning over to digital technologies, there are many customers who still value the more traditional, paper banks statements or ATM paper receipts. Having paper records of these important financial forms instills confidence in such individuals. And since we are creature of habit, they relate well with what they can hold onto as compared to what they can store in a hard drive.
In addition, with the onset of cybercrimes, it is important for financial institutions to exercise extreme caution when dealing with digital platforms, as they are potentially vulnerable to hacks and viruses. If you consider a case where all digital records are deleted, individuals with paper statements will still be able to validate their bank balance. On the other hand, those who totally depend on digital receipts will have nothing to show. It is important for the banking industry to proceed with caution until the digital industry is able to secure sensitive information without any chances of it being compromised.
So, ATM paper, and other physical financial forms, isn’t going away just yet. Therefore, institutions should focus on how to optimize the thermal paper they do use. This includes:
- Focusing on Quality: Thermal paper that is not suitable for your machine, or paper that is of substandard quality, can jam and clog the ATM. Low quality thermal paper can have a rough surface that may cause permanent damage to the print head. As a result, you will have to replace the print head, which constitutes an unnecessary expense.
- Controlling Costs: The cost of thermal paper fluctuates over time. Experienced thermal paper suppliers are able to anticipate price increases and/or decreases, and can help you forecast accordingly.
- Driving Revenue: The paper ATM receipt is one of the more effective and cost efficient forms of advertising available to financial institutions. For a nominal incremental printing cost, financial institutions can use the back of the receipt to promote their products and/or loyalty programs to a highly targeted audience when banking is top of mind. And ATM deployers can sell the space on the back of the receipt to prospective advertisers to help offset their paper expense, boosting their bottom line.
At Telemark Diversified Graphics, we can help you get the most out of your thermal paper systems. With us, you can Expect More because you Get More. Please contact us to discuss your ATM paper needs, or to receive a free quote.
