Many financial institutions (FI) deal with the constant changes in technology and compliance as well as the routine maintenance of their ATM fleet. This is a heavy burden to bear especially while trying to compete with the current changes in branch banking caused my mobile devices and the internet. ATM outsourcing means never having to worry about cash management, system updates, compliance issues or equipment maintenance. Here are few of the benefits that go along with outsourcing your ATM fleet.
Reduced Costs
When a FI outsources their ATMs, it places responsibility on the service provider for ownership and operation, ultimately relieving the FI of initial capital investment. This can be a huge savings for FIs since the average cost of an ATM can be up to $25,000 or more. Also, since the FI doesn’t own the ATM, it cuts costly hardware investments and expensive operational costs.
Fewer Headaches from Compliance and Upgrades
Recent upgrades and compliance issues like EMV, PCI-DSS and American’s with Disabilities Act has caused many FIs unnecessary stress. Maintaining compliance and keeping everything updated is very costly and time consuming. Many service providers offer regulatory compliance guarantees that relieves the FI of the cost and headache of having to deal with these issues. Outsourcing also makes it easier to implement new programs and processes.
Less Back Office Stress and Better Customer Service
Technology is constantly changing the way customers interact with FIs. If the back office no longer had to worry about maintaining ATMs, they would be able to focus on developing new programs that could potentially gain new members. It also relieves the front-line staff of having to worry about the ATMs, allowing them to focus on providing the best customer service.
By releasing the management of the ATM fleet, the FI is drastically reducing their stress by saving money, passing the burden of compliance and upgrading and making their staff capable of providing top notch customer service.
So, take that first step and give Dolphin Debit at call at(877)247-4182 to see how we can help.