It’s been just over 50 years since the introduction of Automated Teller Machines (ATM) to the United States, and it is hard to imagine the modern banking landscape without them. They provide secure and convenient access to funds 24/7/365, without the challenges of staffing and servicing. In recent years, as functionality has expanded, they have become valuable tools inside branches, alleviating service bottlenecks and proactively marketing products and services. The future remains bright.
ATM Marketplace predicts $5.64 billion global ATM market growth by 2027, and your institutions’ share of this pie may heavily depend on the reliability of your machines.
How Managed Services Support ATM Efficiency And Functionality Improvements
For many banks and credit unions, a convenient and technologically advanced ATM network has the potential to become a differentiator. But how do financial institutions achieve this without overburdening staff and impacting other areas of their operation? It makes business sense to have a partner with the expertise to handle the heavy lifting and do so cost-effectively. That is where Shield Business Solutions comes in.
Shields Business Solutions has been a leader in ATM solutions since the 1980s. In the decades since, Shields has continued to innovate and invest in order to address new and evolving complexities, as well as opportunities.
Our ATM/ITM Managed Services solution assists you in addressing the most significant challenges of managing your ATM network, including:
Cost of Operations
Maintaining ATMs can be a costly endeavor. Software, recurring cash flow, staff training, and physical maintenance costs can all add up quickly. Average maintenance costs can run between $1500-$5000 per month, depending on fleet quantity, locations, and model type(s) of machines. Keeping costs consistent and in check simplifies budgeting and minimizes the risks associated with out-of-date software.
Service interruptions and downtime
Downtime of ATMs can be a double whammy, contributing to both customer dissatisfaction and potential revenue loss. According to ATM Depot, even a few hours of downtime can cost an institution thousands of dollars in lost transactions, with other non-monetary costs such as “damaged reputation, stress, lower confidence, and decreased momentum.”
Security Threats
According to ATMIA, ATM attacks increased 600% from 2019 to 2022, with little evidence of abating. The technology-fueled cat-and-mouse game between good guys and bad guys can often present challenges outside the skillset of even the most experienced operations teams. Let our team manage and mitigate the top threats your ATMs face on a daily basis.
Regulatory Compliance
According to survey results published by ATM Marketplace, “Compliance and regulations still plague the industry as the most urgent operational issue to solve, followed by real-time transaction monitoring.” Our solution alleviates the burden of keeping up with regulatory changes while remaining compliant.
Why Banks Should Consider Managed Services for ATMs
Adding the above challenges to an already complex business can stretch resources and disrupt other equally vital revenue streams. Managed services from Shields Business Solutions covers the responsibilities of your ATM network, allowing your staff to concentrate on higher-value tasks.
Cost Efficiency
Expertise and the necessary assets to maintain your ATMs can be expensive, but you can leverage our investment in personnel and training—receiving top-notch services at a cost that is consistent and manageable, creating a predictable budget and pathway to profitability.
Enhanced ATM Uptime and Reliability
Proactive monitoring and maintenance ensure higher ATM availability and reliability, resulting in fewer instances of downtime. In addition, increased customer confidence in ATMs paired with improvements in reliability and functionality can be meaningful drivers for growth.
Improved Security
Comprehensive security measures, including software updates and physical security enhancements, help to protect ATMs from threats. Regular security assessments and updates, remote deployment, and many more features are a key part of our Managed Services.
Regulatory Compliance
Through regular audits and updates, we ensure that ATMs meet all industry regulatory requirements, as well as ADA ATM compliance requirements. We assist you in mitigating the risks associated with regulatory compliance for your ATMs, as well as supporting efforts to increase accessibility for all potential users.
How Managed Services Improve ATM Functionality
24/7 monitoring and proactive maintenance help reduce instances of ATM downtime. Real-time alerts and diagnostics notify maintenance and branch staff of issues before they affect functionality.
Software and Hardware Upgrades
Regular updates to software and hardware ensure ATMs operate efficiently and securely. Quick execution of upgrades is vital to maintaining security, compliance, and a positive user experience.
Data Insights and Reporting
Access to data analytics can help you optimize ATM performance and tailor customer experiences. With the ability to review transactions for peak usage times and potential issues, financial institutions can better align resources and position themselves for future growth that addresses shifts in usage patterns and the functionality customers desire.
Streamlined Management
Centralized control of ATM networks allows for fast, streamlined updates and quicker issue resolution, and Shields Business Solutions’ comprehensive solution, RemoteView, helps maintain your branch’s ATM fleet and can help resolve over 65% of ATM and ITM issues.
RemoteView’s benefits include:
- Advanced Diagnostics ensures that ATMs and ITMs are not only operational but also operating at optimal performance. From remote reboots to advanced troubleshooting by certified RemoteView specialists, banks can expect increased uptime—a critical metric in the ATM and ITM landscape.
- Round-the-Clock Monitoring: In the world of financial transactions, every minute counts. RemoteView’s system provides round-the-clock monitoring to promptly address any glitch or malfunction.
- High-Level Security: In an era of frequent cyber-attacks, RemoteView has integrated robust security measures offering features like zero-day protection, centralized policy management, and most importantly, application control to isolate machines from potential threats.
- One-Stop Management Solution: The RemoteView Command Center acts as a mission control for all your machines. View individual machine data, analyze aggregate data, access electronic journals, or manage backups—the Command Center provides the resources you need to make wise decisions.
- Seamless Connectivity: Transitioning to RemoteView is a breeze. The installation involves adding a compact Windows-based agent to your ATM or ITM. The agent then exclusively communicates outbound, guaranteeing the safest connection for your machines at all times.
- Marketing With Precision: Beyond diagnostics and security, RemoteView doubles as a marketing tool. Seamlessly deploy marketing screens across all your ATMs or ITMs, ensuring that their marketing messages are aligned across touchpoints—be it in-branch campaigns, external advertisements, or on the ATM and ITM screens.
Modernize Your ATM Operations and Reduce Downtime with Shields Business Solutions
With Shields Business Solutions’ comprehensive ATM Managed Services, you can ensure the security and efficiency of your ATM network. Our solutions help you maximize opportunities in critical areas for your institution and customers.
- Remote Security
- Critical and non-critical software patching
- PCI compliance
- Low-Cost Check Imaging
- Remote Troubleshooting, Diagnostics, and Repair
- Marketing Screen Remote Deployment
- Fully Outsourced ATM Channel for Retail or Financial (including check imaging deposits)
- Preventative Maintenance Inspections
Why Shields Business Solutions Is Your Ideal Partner for ATM Managed Services
With outsourced ATM services, you’ll have access to a team of ATM experts and technicians with a breadth and depth of tech knowledge and experience. Our team will ensure issues are quickly addressed and software stays up to date and running at all times.
ATM security safeguards assets, enhances operational efficiency, and helps to promote and preserve customer trust. Shields’ products and services use the industry’s highest security standards, helping to mitigate the risk of financial loss and criminal interference by quickly detecting potential skimming equipment and ensuring that ATMs are secure, well-maintained, and fully functioning.
Partner with Shields to Improve the Security of Your ATM Network
Are you interested in assessing the effectiveness of your existing security protocols? We offer a free security evaluation to help identify risks and provide remediation solutions. Contact us today to schedule your free evaluation.
As a trusted leader in ATM and ITM solutions across PA, DE, NJ, and NY, we are committed to helping your bank succeed. Don’t wait to transform your customer experience—contact Shields Business Solutions today to learn more about our innovative ITM and ATM options and how they can benefit your institution. Don’t forget to subscribe to our blog for more tips on security and ATM/ITM management!
