Bank of America Corp (NYSE:BAC) Pushing The Boundaries In Extended Hours Transactions

Bank of America Corp (NYSE:BAC) continues to expand the network of its Automated Teller Assist (ATA) across the country. The company has already deployed hundreds of such teller machines in several locations and is considering further expansion in places like Delaware. ATA allow customers to get banking services beyond what traditional ATM can offer.

Do analyst foresee a double-top for BAC?

Bank of America Corp (NYSE:BAC) has rolled out more than 550 ATAs in about 200 locations in the U.S., and the number is expected to grow. In April, the bank is expected to make a second ATA installation in Philadelphia. The first one in the region was installed last August. The bank is considering several locations in Delaware for the installation of ATA, where no currently exist.

More transaction options

About half of the transactions at Bank of America are processed during extended hours, which is why the bank is moving to make automated transaction more convenient for customers. The options that come with ATA include ability to cash check for the exact amount, deposit checks and split deposits into different accounts. The teller assisted ATMs also support credit card and loan payments and withdrawal of cash in different denominations.

Bank of America allows access to ATA between 7 a.m. and 10 p.m. on weekdays and between 8 a.m. and 5 p.m. on weekends. ATA allows conversation with a remote teller via video and customers can ask and obtain answers on various banking services as they may desire.

A human touch

Through ATA, Bank of America Corp (NYSE:BAC) has shown that it recognizes the importance of human element even in the face of technology-driven world, which is good for customer retention. The step to bring human touch to ATMs is also expected to enable Bank of America to serve its customers more efficiently.

The bank said it has made new hires to support the rollout of ATA, although it won’t disclose how many people it hired or intends to hire for the purpose.

About the Author

Coper graduated from the University of Chicagi with majors in political science and journalism.

Leave A Response