The Making of Pendum
How We Became the Biggest Name in Cash Automation Services

What do you call a company that’s a nationwide industry leader, which provides superior value and experience to thousands of customers, and continues to redefine itself through new services and markets? That’s a tough question – one that our leadership team spent months trying to answer before arriving at the name “Pendum.”

The renaming challenge began in 2006 when two ATM industry pioneers, EFMARK Premium Armored and Bantek West, joined forces to become the largest independent provider of maintenance and cash services for ATMs and other transaction equipment. But a lot happened leading up to that point. And to truly understand why we’re now known as Pendum, you have to know the whole story.

Archives: Our History

Our name may be new, but our company has evolved over many years. Here are a few of the highlights:

1981: Mark Hoppe founds EFMARK Service Company in Westmont, IL, specializing in acquiring first-generation ATMs from larger banks in order to refurbish them and sell them to small financial institutions. 1986-1990: EFMARK broadens its service offerings to include ATM maintenance and ATM deployments. 1990 to 1998: EFMARK expands geographically beyond Illinois, moving into neighboring states. 1999: Mark Hoppe founds EFMARK’s sister company, Premium Armored, creating a single source hardware, maintenance, and cash handling solution for ATMs. 2001: EFMARK becomes NCR’s largest ATM reseller. 2005: EFMARK Premium Armored introduces The Value of ONE™ solution to the marketplace, providing customers with an end-to-end service package. 2005: EFMARK provides service to more than 50,000 ATMs in 43 states, with revenues of $137 million.

1986: Bantek West is founded in Denver, CO, as a provider of armored car services for financial institutions. 1994: Business partners Leif Houkom and Fred Wich take ownership of Bantek. 1994 –2004 Bantek experiences rapid growth and meets increased demand- Employee base increases 10 fold from 120 to 1200. 2004: Bantek receives major growth capital investment from The Edgewater Funds, a Chicago-based private equity firm. 2005: Bantek creates a single source solution for customers by acquiring The Wilson Group, a Michigan-based provider of ATM maintenance and desktop computer support for financial institutions. 2005: Bantek provides service to 15,000 ATMs, 65,000 desktop workstations and printers, and 500 teller cash dispensers nationwide. Annual revenues reach $ 95 million.

2006: EFMARK Premium Armored and Bantek West join forces to create a clear nationwide industry leader, further broadening the single source solution with an expanded product portfolio and geographic reach. The combined company is renamed “Pendum,” derived from the Latin words meaning The Value of ONE.
Behind the Scenes: Finding the Perfect Name

Bringing all of our staff under the same banner was a critical step to encouraging optimism and teamwork among former competitors. But renaming a major company isn’t as easy as it may seem. There were several key requirements that the new name had to meet before we could claim it as our own. It had to be a name that captured the nature of our business; it needed to be unique and memorable in the market; and of course, it had to be available.

Out of hundreds of ideas we considered, Pendum stood out, and was the only one to meet all these criteria. So what does “Pendum” mean, exactly? You won’t find it in the dictionary. It’s our own creation, the blending of two words in Latin, the ancient building blocks of English and many other languages.

Pendo: Value, esteem; or, to weigh or judge Unum: Only one, single, at the same time    
Put them together, and you get Pendum, a company that creates superior results for customers by delivering a broad range of services under a single contract. It’s the service philosophy we call “The Value of ONE.”

After choosing our name, we needed a logo that would work in tandem with Pendum – something to symbolize the meaning behind the words. The abstract “P” that was chosen is more than our first initial. The logo’s sweeping, encompassing archs represent Pendum’s ability to provide an end-to-end solution for every aspect of ATM programs and beyond. The lines also suggest a sense of perpetual motion, hinting toward Pendum’s continuous improvement, growing service portfolio, and constant adaptation to market needs.

The Audience is Listening

In January 2006, when we announced the merger of Bantek and EFMARK Premium Armored, we knew our customers would have questions. Would service stay the same? Would costs increase? Would the people they knew and trusted still answer their calls?

We understood, and still understand, that to make a merger successful takes more than just vision. It requires the elbow grease and the resiliency to overcome inevitable challenges and do what’s right for our customers. Even if that means taking one step back so we might take two steps forward. In the end, our organization is stronger as a single company than we were apart.

That determination is embodied in our new name, Pendum. The name comes from the Latin words for “value” and “one,” and it encapsulates our mission to be the single source provider of hardware sales, maintenance, and cash services for ATMs and other transaction terminals. Our turn-key capabilities and national presence are unmatched in the industry, enabling us to improve performance and reduce program costs where our competitors fall short. From now on, when customers see our striking new name and logo, they’ll know they are working with the best.

Cast and Crew: A-List Talent

Turning a concept into a full-scale production takes more than ideas. It takes great people. And it’s thanks to our team of exceptional individuals that Pendum has a place at the top of the ATM and armored industries today.

The name Pendum, derived from “value” and “one,” not only encompasses the benefits we bring to our customers; it is also a continual reminder of what drives us internally. We value each other as professionals. We are one team. And the knowledge and experience of every team member combines to create a whole that is greater than the sum of its parts.

From New York to California, Texas to Minnesota, we work across borders with mutual respect and a sharp focus on providing outstanding service. Whether the roles we play are center-screen or behind the scenes, each of us is committed to and accountable for our customers’ success.