Did you know there are reportedly 6,800 FDIC-insured banking institutions in the U.S.? Every single one of these institutions has a reason to consider outsourcing some – if not all – of their ATM operations. And what is that reason? Money.
ATM outsourcing can save you money in countless areas of business. One area that is easy to calculate relates to an ATM fleet’s operations. An often-cited study by Dove Capital Partners estimates that a large bank could save nearly 20 percent on its direct costs per month, per ATM, by outsourcing to a third-party managed services provider. This does not include additional savings on items such as contract administration, power and communications. Outsourcing to an expert provides best-in-class service at an affordable monthly fee. While a managed services provider focuses solely on the ATM fleet, FIs are able to take advantage of collective buying power, which dramatically reduces operating costs.
There are also the harder to quantify, but no less real, costs of opportunity lost due to devoting your teller’s resources and time to ATM operations, maintenance and management, when their time and resources could be better spent building profits elsewhere. Based on cardholder trends, it is quite likely your financial institution is focusing heavily on developing mobile applications and other digital banking tools. With so much money and effort going into these digitally-enhanced strategies, resources to manage ATMs and related concerns, such as EMV, PCI-DSS compliance standards, ADA regulations, Windows 7 migration and software integration, become very limited. This is where ATM outsourcing can save you time and money. With the headaches of ATM management and regulation out of sight and mind, your back office staff can focus on developing programs that will allow your institution to attract new customers.
Whether you’re dealing with new customers or old, can you really place a price on providing exceptional customer service? Delivering superior financial services to customers is at the core of every FI’s purpose. Although ATMs play a huge role in customer satisfaction, this service is only a fraction of what your financial institution delivers in quality programs. Managing your ATM operations does not have to be an extra burden for your front line staff. By outsourcing your ATMs to a managed services provider, your staff can focus on what really matters – providing the best service possible.
As David Dove explained in the guide, “The Key Benefits of Self-Service Outsourcing,” managed services partners provide scale and focus that a single FI cannot match on its own. Moreover, outsourcing partners deliver the infrastructure and skills required to maintain an ATM network because ATMs are their core business, not a sideline and necessary nuisance. Owning and managing your ATM operations can be stressful, time consuming and expensive. Why not eliminate the headache and let an expert take control? ATM outsourcing can relieve you from the burdens of regulatory compliance, EMV deadlines and expensive operating costs, giving you and your team more time to focus on growing your business. It’s time to free yourself of daily ATM operations, and put your focus back on banking.
NuSource Financial’s “Freedom ATM Program“
ATM Outsourcing allows you to hand over the reins of your ATM channel to the experts. With our “Freedom ATM Program“, every aspect of your ATM channel can be turned over and managed by one team with one focus – keeping your ATM network at its peak efficiency. This allows you to focus on what matters most – lowering costs, effectively running your business and keeping your customers satisfied.
Outsourcing Services to Consider…
- Cash Management
- Regulatory Compliance
- Remote Monitoring
- Service and Maintenance
- Software Upkeep
- Transaction Processing
- Transaction Security