As ATM management becomes more complex, should you simplify?
The business of managing ATMs is becoming more and more complicated. Don’t believe it? Just spend five minutes reviewing new accessibility standards required under the Americans with Disabilities Act. It’s not that the new requirements are unreasonable: Making ATMs more accessible for physically-challenged members is a worthy goal. It’s that attempting to read, understand and comply with the regulations can feel a little – well, disabling.
Compliance became the law on March 15, 2012, so most people reading this are probably already familiar with the requirements. They include voice guidance, tactile input, height and reach standards and privacy screens. (For an overview of the requirements and how they might affect your credit union, check out this CO-OP Financial Services webinar.)
If you’ve worked hard to meet the new compliance standards, you probably also know this: Managing your ATM presence is a big undertaking – one that involves your time, significant budget, the talents of several staff members and a complement of vendors. “The care and management of ATMs covers a large ecosystem,” says Dr. Kathy Herziger-Snider, Vice President of Product Development for CO-OP Financial Services. “It’s complex. But ATMs are such a key touchpoint for members: It’s important that a credit union’s ATM fleet is secure, protected and highly available.”
ATMs bring convenience and efficiency, both to your members and your credit union. But that’s only if you can manage your fleet efficiently. With everything from changing regulations to technological advances (such as envelope-free deposits and electronic access to shared branching transactions) complicating the mix, running a tight ship isn’t easy or automatic.
This is no time to slack off in the ATM department. According to this infographic from ATMmarketplace.com, cash withdrawals are expected to increase 8 percent annually through 2016; ATM transactions will reach 94 million yearly by 2015; and ATM installations are growing at a rate of 6 percent.
How can credit unions keep up without sacrificing efficiency? CO-OP is looking to address this challenge with comprehensive ATM management services that will handle all operational aspects of running a credit union’s ATM fleet, including:
- ATM processing, terminal driving, reporting, fraud detection and prevention and adjustment processing.
- Deploying and implementing new devices or upgrades, including compliance.
- Device support, vendor management, billing and maintenance.
- Fleet consultation, including technology recommendations and financing analysis and options.
The idea is to simplify. “Credit unions already know us. They trust us,” says Herziger-Snider. “By bundling all of these services together, we’re able to offer cost savings and operational efficiencies, both of which are important to credit unions right now.
“But, just as important, we’re freeing up staff to focus on taking care of members,” Herziger-Snider continues. “The complexity and number of services credit unions have to maintain to keep their ATM fleets running smoothly continues to grow. We believe some credit unions may have decided not to add ATMs because the level of complexity has become so great. Our aim is to have a single point of contact for all ATM-related issues, so managing your ATMs is simple. If you have a question or a problem that needs solving – or if you want to add a new ATM – there’s one number to call for immediate help.”