Dolphin Debit, the full-service ATM management company, saw strong growth across all areas of the company in 2017. Its revenue grew by 27 percent along with significant increases in the number of ATMs that it operates, the number of transactions, and the total amount of cash dispensed.
Growth in 2017 came from both new institutions with large portfolios of ATMs and existing clients. Many existing clients that previously outsourced primarily off-premise ATMs to Dolphin Debit have now moved all of their ATMs over to Dolphin’s turnkey management.
Gary Walston, co-founder of Dolphin Debit, noted that for 2017 the number of ATM transactions was up by 47 percent, and the amount of cash dispensed was higher by 53 percent, when compared with 2016.
Dolphin Debit saw strong growth with banks and credit unions across all of its regions, with increased penetration in its newer markets in the Midwest, Northeast, and Pacific Northwest.
“One of the big drivers of our business in 2017 was the need among credit unions to upgrade or replace their ATMs for EMV,” Walston explained. “Another factor is that more and more credit unions are recognizing that outsourcing is a smart option when it comes to how they manage their ATMs.”
Walston noted that the need for an ATM upgrade or replacement is often a catalyst for a credit union or bank to look into outsourcing rather than managing its own machines.
“They may not worry too much about the costs and management burdens of their ATM fleet until they’re faced with spending large amounts on upgrades or new machines,” Walston pointed out.
“That is when they really discover the advantage of turning all those responsibilities over to Dolphin Debit. They find they can put the money – cash that they would have had to invest in ATMs – to much better use by loaning it to members.”