An incumbent retail bank’s profits had been hit by competition as the competition had started building ATMs. They wanted to develop an ATM strategy.

Question

Accepted Answer

The incumbent retail bank needs to develop an ATM strategy to counter competition.

Analyze the competition's ATM strategy and identify their strengths and weaknesses.
Assess the current market demand for ATMs and identify potential opportunities for the bank.
Evaluate the bank's existing infrastructure and resources to determine the feasibility of implementing an ATM strategy.
Consider the cost implications of developing and maintaining ATMs.
Develop a comprehensive plan that includes marketing, technology, and operational aspects of the ATM strategy.
Monitor and evaluate the effectiveness of the ATM strategy and make necessary adjustments.
Collaborate with relevant stakeholders, such as IT and marketing teams, to ensure successful implementation.

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