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  • 35 Years After Woodstock, the ATM Rocks On; Survey Indicates 68 Percent of Adults Who Have an Established Banking Relationship Would Miss ATMs More Than Cell Phones and Dishwashers

Press Release

35 Years After Woodstock, the ATM Rocks On; Survey Indicates 68 Percent of Adults Who Have an Established Banking Relationship Would Miss ATMs More Than Cell Phones and Dishwashers

November 16, 2004 at 11:01 AM EST
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DAYTON, Ohio--(BUSINESS WIRE)--Nov. 16, 2004--Thirty-five years after the automated teller machine (ATM) first landed on American soil, the ATM still rocks! It was 1969. Neil Armstrong had just taken his first steps on the moon, Woodstock grabbed a generation's imagination - and the first ATM in the United States was installed in the borough of Queens in New York.

Much has changed. The moon is no longer the focus of space travel, music has evolved and the ATM has become a way of life. In an online poll conducted Oct. 29 - Nov. 2, 2004 by Harris Interactive(R) for the NCR Corporation (NYSE:NCR), respondents rated technology advances according to how much they would miss them if they didn't exist. Sixty-eight percent of U.S. adults online who have an established banking relationship indicated they would miss ATMs if they didn't exist - making this device missed by more people than the cell phone (63 percent) and the dishwasher (58 percent). Forty-three percent went so far as to confirm that ATMs have changed the way we live.

From that first ATM installed in Queens, there are now over 384,000 such machines stateside. In fact, Americans enjoy one of the highest ATM densities on earth, with more than 1,300 ATMs per million people in the United States. But for many, that's still not enough. Forty-three percent of online adults with an established banking relationship said their bank doesn't have enough ATMs, compared to just 2 percent indicating their bank has too many ATMs. For the youngest age group (18-34), more than half wanted more.

Of the adults surveyed, 92 percent indicated it's important to them to have access to banking services wherever they need to be, and four out of five (83 percent) cited the importance of access 24 hours a day, seven days a week.

People's attitudes are changing, and the ATM is evolving to reflect this. Consumers want new levels of service such as the ability to deposit checks or pay bills at the ATM instead of waiting in long teller lines. In fact, a whopping 91 percent said it is important to them that banking services be tailored to their individual needs. The latest banking software offered by NCR allows just that. The customer can be greeted by name and even offered "your usual transaction," making the process even quicker.

As Keith Taylor, senior vice president of NCR's Financial Solutions Division, points out, in some respects this is just the beginning.

"Woodstock may have had its hey-day, but the ATM truly is timeless. Just as technology has evolved since 1969, so has the ATM. It is still here, delivering services we never thought were possible back then," said Taylor. "Today, the ATM is synonymous with card in/cash out, but it never really became an automated teller - until now. Just when consumers are expecting more convenience, the ATM has evolved to meet our self-service needs."

Survey Methodology

Harris Interactive(R) conducted the online study between Oct. 29 and Nov. 2, 2004 among a nationwide cross section of 3,077 U.S. adults (18+) who are online, of whom 2,979 currently have a bank or financial institution. Data were weighted to be representative of the total U.S. online adult population on the basis of region, age within gender, education, household income and race/ethnicity. In theory, with a probability sample of this size, one can say with 95 percent certainty that the results for the online adults who have an established banking relationship sample have a statistical precision of plus or minus 3 percentage points. This online sample is not a probability sample.

About NCR Corporation

NCR Corporation (NYSE:NCR) is a leading global technology company helping businesses build stronger relationships with their customers. NCR's ATMs, retail systems, Teradata(R) data warehouses and IT services provide Relationship Technology(TM) solutions that maximize the value of customer interactions and help organizations create a stronger competitive position. Based in Dayton, Ohio, NCR (www.ncr.com) employs approximately 28,900 people worldwide.

NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.

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    CONTACT: NCR Corporation
             Lorraine Russell, 937-445-3784
             lorraine.russell@ncr.com
             OR
             Harris Interactive
             Nancy Wong, 585-214-7316
             nwong@harrisinteractive.com

    SOURCE: NCR Corporation