THE FUTURE OF AUTOMATED TELLER MACHINES (ATM) AND BANK PROFITABILITY IN NIGERIA

This study investigates the dynamic interconnectedness between automated teller machines and bank profitability in Nigeria from 2009 to 2023. The findings reveal valued perceptions into the impact of Fintech on bank profitability as a whole. We found a positive and non-significant long-run relationship between Automated teller machines and bank profitability which suggests that banks can consider optimizing the placement and accessibility of their ATM terminals. These results emphasize the importance of banks boosting the placement and accessibility of their ATM terminals to enhance the effectiveness of ATM services and improve profitability. Concerted efforts to position these machines in an area with significant pedestrian activity can effectively attract a larger customer base while maintaining cost efficiency. The implementation of machines that provide rapid service and save time by eliminating the need to visit physical banks significantly improves customer satisfaction. We also recommend experimental initiatives designed to evaluate alternative financial models, including biometric ATMs to tackle Nigeria's specific difficulties.