The Decision to Outsource ATM Management and ATM Repair

Having an ATM on your business premise is much more than just about giving your customers the convenience of withdrawing cash. The newest ATMs are capable of serving virtually every type of banking transaction. A good rule of thumb for determining if an ATM will benefit your business is to multiply the amount of the transaction fee, usually about $2.75, by the estimated amount of foot traffic. Some say that 3 to 5% of the foot traffic people that see an ATM will use it.

Once you do have an ATM on premise, the customers that come in to use it will present an opportunity to purchase goods from your business. And if they use the cash they just withdrew to pay, you save on merchant fees from credit/debit cards.

For financial institutions, an ATM is something customers have come to expect on premise. But perhaps your ATMs are outdated and you want to look into upgrading to new equipment with the latest technology, such as deposit automation and check imaging. Financial institutions can more fully engage their customers by adding new functions and services, such as envelope-less deposits and receipts via text messages or email. Other features that provide a better customer experience are the ability to pay bills, buy tickets, or reload a prepaid card at the ATM.

ATMs can help banks present revenue-generating services using videos during the waiting periods during a transaction. These five- to ten-second pauses are perfect opportunities for showing customers additional services the bank has to offer.

With rapidly changing technology and increased security threats, managing ATMs has become more complex, requiring better management. Card skimming, malware, and USB attacks are just some of the new schemes that create security issues. Adding more manpower to stay on top of these risks reduces time that could be spent taking care of customers. Many financial institutions are opting to utilize third-party vendors when it comes to the maintenance of their ATMs. Some prefer to retain ownership of the equipment, while many see the benefits of handing over full ownership.

Another area where outsourcing can be more cost-efficient is when updates are needed to comply with mandates and laws governing currency. It is a costly endeavor to upgrade or replace the hardware and/or software needed to meet new industry standards. Two examples of this are the mandated accessibility features and functions for ADA (Americans with Disabilities Act) compliance and EMV chip-card capability. The ADA mandate deadline was in March 2012. Most institutions have already upgraded their ATMs, but for those who haven’t, there could be penalties. Upgrades to accommodate the new EMV chip cards will be another costly and complex transition.

NAUTILUS HYOSUNG has a line of ATMs for lobby, drive-up, and walk-ups. They feature the most current technology available to serve customers with efficient and secure transactions. The Hyosung has been named the most advanced Teller Cash Recycler on the market. These cash recyclers manage the transaction so that tellers have more time for customer service. Teller Cash Automation products bring ease and efficiency to managing transactions as well.

Intelligent Safes allow retailers and banks the safety and convenience of transmitting cash data directly to partner financial institutions. In addition, cash deposits can be made without leaving the storefront.

Allied Fire and Security, doing business since 1948, is one of the top security integrators in Seattle, Portland, and Spokane. They offer full service management of ATM’s and ATM repair for equipment sold through them or already owned. Along with the best ATM products and services, they also provide ATM area protection, such as video surveillance, license plate capture, and much more. Allied is experienced in all aspects of security and the latest technology in security products.