Wincor Nixdorf commissioned research explains how banks can benefit by outsourcing the management of their ATM networks to expert third-party provider

Paderborn, Germany, 2014-10-9— /EPR Retail News/ — The U.S. market research firm IDC has published a white paper entitled “Optimizing customer experience through innovative management of the ATM fleet” commissioned by Wincor Nixdorf explaining how banks can benefit operationally and financially by outsourcing the management of their ATM network to an expert third-party provider.

For banks, ATMs are an essential component of their self-service strategy – and have been so for nearly 50 years. Customers around the world have come to rely on them in banks, airports, retail stores and other highly frequented locations to provide a diverse and growing range of financial interactions and transactions. So, given that the value of ATMs has never been higher, banks can arguably question why they should even consider handing over the management of their ATM fleets to a third-party provider.

Market research firm IDC delivers multiple reasons for outsourcing this business in the white paper, “Optimizing customer experience through innovative management of the ATM fleet”.

In the paper, IDC notes that ATMs are often part of a complex and heterogeneous environment, consisting of diversified branch formats and a multiplicity of hardware and software. To reduce complexity and increase efficiency, banks need to create homogeneity, a process that ties up human and financial resources.

To attract customers to their branches, banks also need new formats featuring ATMs with enhanced and innovative functionalities and these, in turn, require ATM networks to be operated in fundamentally different ways. This is yet another pressing requirement that ties up resources.

Nor is technology standing still. ATMs continue to be enhanced, for instance, with self-healing and predictive maintenance functionalities. Banks must leverage these innovations to gain a competitive edge.

On top of all this is the growing demand for omnichannel services. These budding new services provide customers with a superior, immersive and seamless experience in the branch, at the ATM, on the computer or on the mobile phone. Interconnecting the stationary and online operations is a formidable task that requires a high level of expertise.

These are among the key reasons described in the IDC research on why banks should consider outsourcing their ATM fleets to professional third-party suppliers such as Wincor Nixdorf. Banks, the market researcher argues, can free up human and financial resources to focus on their core banking tasks and also have the latest technology by handing over the operation of their self-service terminals to trusted partners. And partnering, the firm argues, doesn’t mean financial institutions will disconnect with their customers, but rather will maximize performance and the customer experience.

In the white paper, IDC also provides answers to four broader questions relating to ATM management: What role does the ATM play in today’s retail banking business strategy? Why does the branch, and specifically the ATM channel, remain important for banks? How can retail banks use ATM management to support their business strategies? What does the future hold in store for the ATM network?

The IDC white paper can be downloaded at:
http://info.wincormarketing.co.uk/IDC-Innovative-Fleet-Management-Whitepaper_LP_Innovative-Fleet-Management.html