Self Service Terminal or Automated Teller Machine (ATM) was introduce in the banking industry in 1981. Since the adoption, it plays a major role in change of customer’s culture in engage transaction with bank. The innovation was first to deal with the bank’s constraints on time and geographic factor in providing their services. Then, the features of ATM were improvise to meet the customer demands and market opportunities. The adoption of ATM in banking industry is the result of how the technology in communication are successfully align with the industry direction. It’s require major decisions and brilliant strategies to assure this technology can be fully utilized. It’s not only between bank and society but also some other important parties that can determine how successful it can be. The collaboration between them is needed as they have capabilities and expertise in related industry that support this adoption. Recently, this technology is still relevant and growth with huge opportunity. However, the relevant parties should carefully look on the challenges that might be coming as well the dynamic environment that waiting them in future.
2. Educational Objectives
a. Innovation and technologies improved the banking industries to meet fast changing customer demand and market. b. Understanding the market needs and constrains required the service innovations to take place to increase the market share and gain the competitive advantage. c. The ability to recognize the opportunity and threat of the industry will give the banker market advantage to be ahead of their competitors. d. The global communication and connection able human to perform their banking beyond banking physical premises.
3. Discussion Question
1. How do you see Technology acquisition/ alliances playing role in Self Service Terminal (SST) adoption in banking industries? 2. Do you agree that SST help bank to pursue their financial objectives? Why? 3. Did you...
Bruton, G.D & White, M.A. Strategic management of Technology and Innovation. 2nd Edition
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