Published September 13, 2021
Outsourcing part of your business services to a third party can feel like letting someone else take control of your operation.
It’s how many financial institutions felt about ATM as a Service before the pandemic. Banking leaders worried that outsourcing running of their ATM fleet amounted to relinquishing control over those services.
The pandemic emphasized the need for financial institutions to digitize and modernize the banking experience. Today, these same institutions realize ATM as a Service is a model that facilitates a swifter response to changing ATM technology and regulations. It also frees up time, money and manpower to drive the rapid digital transformation of their core services.
A customer doesn’t think twice about what it takes to provide an ATM, but financial leaders have traditionally spent far too much time managing those logistics.
In addition to the upfront capital required to purchase and maintain the ATMs, financial institutions must:
“At the onset of the pandemic, financial institutions really had to pour their energy and effort into digital transformation, but there’s simply not enough budget or personnel to properly address an ATM fleet along with everything else a financial institution is responsible for,” said Richard Fortune, a senior partner at NCR Professional Services. “So, where do they divide and conquer?”
This is where ATM as a Service comes in.
ATM as a Service outsources the running of the ATM channel so financial institutions can focus on their core services. In the process, ATM as a Service reduces costs, simplifies maintenance and system upgrades, and provides customers with the experience they’re looking for.
It reduces costs:
It delivers a better customer experience
It simplifies operations:
ATM as a Service lets financial institutions set a clear ATM fleet strategy and well-defined objectives with a single provider.
A dedicated service management office is responsible for delivering on those objectives and ensuring the client’s strategy is followed.
“With ATM as a Service, financial institutions ultimately inherit more control over what matters,” said Fortune. “They are less distracted by operational issues and can focus on the end-user experience.”