Most bank customers in Delhi feel that ATMs are a more secure self-service banking channel than Net and phone banking. A recent survey conducted by NCR Corporation, the leading automated teller machines vendor in India, revealed this.
The pan-India research, conducted for NCR by AC Nielsen ORG-MARG, underlined the almost uniform acceptance of ATMs as a banking channel across cities beyond metros as well as in various socio-economic classes in the country.
Studying the security perceptions of banking customers, the study showed that in Delhi, ATMs were considered almost as secure as bank branches. While about 54% of respondents accorded the highest grade to ATMs and 83% to branches, when the top two grades were considered together, a mammoth 92% gave ATMs their vote of confidence (91% to branches).
Only 18% respondents gave the highest vote to phone banking and 16% to Net banking. These channels fared better in Delhi than most other cities when the two top grades were taken together -- about 77% for phone banking and about 61% for Net banking.
Deepak Chandnani, managing director of NCR Corporation in India, said, "We have long believed that ATMs offer the most secure and comprehensive self-service channel, but we felt it was important to check if the banking customers perceived this the same way. As we continue to make significant technological investments in our holistic approach to ATM security, we are glad the consumers have validated NCR's belief in the importance of retaining consumer confidence in this important banking channel."
The study threw up interesting insights about its growth, including the fact that a significant percentage of ATM users (almost 56%) had shifted to this channel in the last two years.
ATMs are the most accessed banking channel for customers, the study showed. About 67% respondents said they accessed ATMs at least once a week or more, compared to just 13% users who accessed the branches once a week.
Most respondents -- about 48% -- said they accessed the branch about once a month. Similarly, most people accessed Net banking mostly once a month -- about 64%.
Phone banking is used a little more than the net as about 50% of the respondents use phone banking about once a fortnight.
The study also clearly showed that users had clearly demarcated different channels for different transactions. While ATMs were used the highest for withdrawals (99%), the maximum transaction at branches was for deposit (Cash deposit -- 69%; cheque deposit -- 36%). 98% of phone banking transactions were for balance enquiry while internet was used largely for transfer of funds (70%).
A high number of respondents showed interest in new ATM applications. About 96% of the respondents indicated that they would use ATMs for cheque deposit if banks used the new intelligent deposit technology (with scanned cheque image as receipt).
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