How do you know when it's time to outsource your ATMs?

From ATM Marketplace –

“There are something like 6,800 FDIC-insured banking institutions in the U.S., and every one of them has a reason to consider outsourcing some — or all — of their ATM operations. And that reason is cost.

Easiest to calculate is the cost related to fleet operation. An often-cited study by Dove Capital Partners estimated that a large bank could save almost 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.

There are also the harder-to-quantify but no less real costs of opportunity lost because resources that might have been better used to build profits were, instead, devoted to the cost center of ATM operation, maintenance and management.”

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Banks eye tech upgrades and mobile tops the list

From Mobile Payments Today –

“Financial institution executives are thinking about how consumers interact with their smartphones, and it's not just about mobile banking.

Of the financial institution executives who took the 2015 ATM and Self-Service Software Trends survey:

• 90 percent said their institution was either considering, piloting or rolling out a branch transformation project;
• 55 percent said they were planning to implement mobile ATM withdrawals via NFC in the near future; and
• 69 percent said they were planning to implement at least some type of mobile-ATM integration within the next few years.

In the questionnaire for the first edition of the ATM Software Trends in 2007-2008, nobody would have even thought to ask such questions. Today, the entire ATM industry is asking them.”

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Mobile Banking Breathes New Life into Call Centers

From American Banker –

“The life of a bank call center agent is rapidly changing.

Where once agents mainly answered customers’ routine questions over the telephone, today they are addressing a wider range of technical queries through a growing number of media.

There is live chat on mobile apps and websites. There are Skype-like experiences on ATMs. And in some foreign countries, there are mobile banking apps with video-chat capabilities. There is two-way texting, and of course, there is responding to consumers’ tweets and Facebook requests.”

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