How to Plan for the ATM of the Future
May 10, 2022
As if maintaining your ATM fleet didn’t come with enough headaches and expenses, the imminent sunsetting of the most widely used ATM hardware/software in the U.S. is pushing financial institutions to re-evaluate their fleet and ATM strategy going forward.
Two of the largest ATM manufacturers in the U.S. have announced plans to discontinue the support for, or “sunset,” their most popular ATM products, meaning roughly 50% of U.S. ATMs will need to be replaced or upgraded within the next two years.
It’s likely your credit union falls into the majority that will be required to pour additional investment into an ATM fleet that already comes with a laundry list of expenses and tedious management tasks that eat away at precious staff time and capital.
While credit unions weigh their options of how to handle the sunsetting of their ATMs, Strategic Link partner, Dolphin Debit Access, says it’s also important to keep in mind the shift in the financial services landscape.
How and when to invest in ATM or ITM (interactive teller machine) fleets is becoming a growing topic as financial institutions of all sizes are looking to the future, laying out their plans for digital branch transformation and incorporating more advanced and sophisticated technology. These new machines may be deposit-taking ATMs, “future-proofed” ATMs with equipment that streamlines ITM upgrades when needed, or the top-of-the-line ITMs.
Dolphin Debit says it is seeing heightened interest in credit unions eager to make the leap into ITMs and for good reason.
More consumers are demanding convenient banking solutions and self-service, and ITMs give credit unions the ability to extend service hours, increase their footprint with mini-branches, and shrink their cost per transaction by reducing overhead costs.
But ITMs also come with a significant financial investment that should be carefully considered to align with your long-term ATM/ITM strategy.
Dolphin Debit can help. The partner’s turnkey approach to ATM outsourcing has proven to be a valuable tool for credit unions to seamlessly adopt new ATM/ITM technology and maneuver ATM sunsetting plans without sacrificing precious capital.
Whether you have ATMs looming sunset, outdated machines, or want to explore ITMs, Dolphin Debit will provide the capital necessary to upgrade machines or replace them with brand new equipment on your behalf. From there, a suite of ATM management services combined with expert consulting removes the burden of operations from staff and assures your ATM/ITM strategy is poised to align with your short and long-term institutional goals.
Change is rapid and consumer expectations are shifting. Now is the time to adapt and position your credit union for success in the digital era. Learn more about Dolphin Debit online or contact the Strategic Link team to be connected with their team of experts.