5 reasons to outsource your atms
1) Reduced operating costs
By using an ATM management company that focuses solely on ATMs, banks and credit unions can take advantage of collective buying power and dramatically reduce operating costs. Not to mention that, with the right provider, they can also receive best-of-class service for an affordable monthly fee.
2) Less stress on back office resources
Based on cardholder trends, it is quite likely your financial institution is focusing heavily on developing mobile applications and sophisticated online banking tools. Resources to manage ATMs and concerns such as EMV, PCI security standards, ADA regulations, Windows 7 migration and software integration might be very limited. This is where ATM outsourcing can save you time and money. With the learning curve, logistics, labor requirements — and headaches — of frequent and ongoing ATM upgrades out of the way, your back – office staff can focus on developing programs that will allow your institution to attract new account holders.
3) Improved customer service
Quite simply, the purpose of your institution is to provide loans and financial services to your customers or members. ATMs play a big role in consumer satisfaction, but this service is just a fraction of what your financial institution delivers in quality programs. By outsourcing your ATM program, you relieve your front line staff of these time-consuming tasks and allow them to focus instead on providing the best possible service.
4) Fewer regulatory compliance headaches
With ATM fraud in the U.S. on the increase and with EMV and PCI deadlines on the horizon, one of the greatest benefits of ATM outsourcing is your institution’s ability to eliminate its responsibility for maintaining regulatory compliance in matters related to ATM security and fraud protection.
5) Access to top-drawer ATM capabilities
The leading ATM outsourcing companies use world-class services that improve the daily management of ATMs. These might include ATM transaction processing and reconciliation; maintenance alerts; vault cash forecasting and management; surcharge-free network access; and state-of-the-art ATM marketing that can expand your brand and increase consumer awareness. With an outsourcing company, you gain access to these tools for a fraction of the cost of developing them in-house or purchasing expensive off-the-shelf and custom software programs.
Putting your ATMs in the hands of experts in an outsourcing agreement can relieve you of the stress of having to upgrade your ATMs to EMV, save you time and money, and help you keep your team focused on growing your institution.