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Press Contacts: Pamela Hoy EFMARK Premium Armored 1-877-692-1500 phoy@efmark.com |
Innovative partnering model provides financial institutions with control,
flexibility, freedom to focus on core competencies
WESTMONT, IL. October 26, 2005– EFMARK Premium Armored, the nation’s largest independent company focusing exclusively on servicing automated teller machines (ATMs), today announced the introduction of its Managed ATM Services platform, a progressive solution providing financial institutions with a single partner for every aspect of their ATM programs.
Running a profitable ATM program is more challenging than ever for financial institutions. While revenues from ATM transactions stay nearly flat, banks and credit unions must continue to invest in costly technology upgrades to comply with government regulations and stay competitive. The solution is to lower the total cost of doing business.
EFMARK’s Managed Services offering provides an alternative to traditional outsourcing relationships. By consolidating all ATM services under a single provider, customers can enhance efficiency and cut redundant costs in their ATM networks. EFMARK’s turn-key approach includes everything from complete ATM program management and first and second line maintenance to cleaning, cash management, help desk service, hardware upgrades, supplies and custom screen design.
“We’ve reshaped our company for the future around the changing needs of financial institutions,” said Mark Hoppe, EFMARK president and CEO. “As the ATM channel becomes more standardized, the Managed Services model becomes an ideal way for our customers to reduce their overhead while maintaining control of vital functions.”
The Managed Services approach is designed to cut the customer’s expenses in every component of the ATM program. For example, using accurate cash load forecasting and efficient route scheduling, EFMARK can reduce the level of cash in a customer’s ATMs, especially important when interest rates are on the rise. If a machine runs out of cash, EFMARK absorbs the cost of the emergency replenishment for Managed Services customers.
The Managed Services package also includes the cost of common “out-of-scope” maintenance calls such as receipt paper refills and modem resets. When billed individually, these additional service requests can create headaches for customers and amount to nearly 10% of their total costs.
While cost reduction is important, it’s not the only focus for EFMARK’s Managed Services plan. In most outsourcing arrangements, the customer turns over control of the program simply in return for cost reduction, which can result in poor service. By comparison, EFMARK creates an integrated partnership with customers to improve performance, and cost reduction is a byproduct.
EFMARK’s advanced system integration capabilities give customers access to real-time information and the power to actively manage their assets and resources to their comfort level. At the same time, customers can free themselves from many time-consuming, routine tasks in order to focus on the critical profit-generating activities of the bank or credit union.
Additionally, the Managed Services platform reduces the need to divert internal IT resources toward ATM technical issues. EFMARK’s more than 800 technicians are well-equipped to handle the complex continuum of technology changes in ATM hardware and software. Through partnerships with ATM manufacturers, the company has access to the most advanced diagnostic tools and training programs needed to service ATMs most effectively. A particular area of focus for EFMARK is helping financial institutions convert their ATMs to the Windows operating system, which opens the door to increased features and functionality.
Another key benefit of the Managed Services offering is its flexibility. Financial institutions can customize a package of services to meet the size and scope of their ATM program; and as their ATM networks grow, they may choose to expand their range of EFMARK services accordingly.
Small to mid-size banks and credit unions are ideal candidates for Managed Services. As they struggle to compete with national institutions, they can focus on their core competencies while EFMARK rapidly installs, services and manages their ATM program.
A single point of contact for the customer allows for faster problem resolution, greater consistency and clear lines of accountability. Customers also enjoy a simplified and predictable fee structure for the entire ATM program, which eliminates the hidden costs of using multiple vendors.
About EFMARK Premium Armored
EFMARK Premium Armored is the nation’s largest “ATM only” service company, providing financial institutions with a single-source solution for ATM equipment and maintenance, cash management and delivery services, advanced monitoring and reporting tools, and overall ATM program management. Founded in 1981, EFMARK services more than 50,000 ATMs in 42 states, enhancing profitability and customer satisfaction for more than 1,600 financial institutions. For additional information on EFMARK, visit the company's Web site at www.efmark.com.
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