subject: Atm Cash Solutions [print this page] In an attempt to better answer the customers demand for fast cash, financial institutions have come up with sprawling Automatic Teller Machines (ATMs). According to estimates there are approximately 2.3 million ATMs across the globe. Analysts estimate that this figure is expected to go up to 3.2 million terminals by the year 2016. Maintaining these outlets supplied costs banks firstly a lot of time to supervise the stocks and make decisions about future supplies. Again, it entails operation costs as well financial, transportation, handling, insurances etc. Similarly, it is a critical task. Untimely supplies could lead to negative customer feedback.
Therefore, banks need to optimize ATM cash management. Here are some of the reasons behind it:
1.Maintain cash Most of the banks supply 40 % extra cash in their ATM outlets than is required. Hence, a huge amount of cash remains blocked, which could be put to better use elsewhere. Therefore, ATM Cash solutions will help banks accurately forecast their daily cash requirements through ATMs and at the same time cut down on excess cash levels at these outlets.
2.Cut down on operations costs Banks should opt for cash management solutions to check ever accelerating operations costs before the situation goes out of hand.
3.Lower overall cost Costs pertaining to cash management etc can go up to as much as 35 to 60 % of the overall cost of running ATMs. Therefore, most of the ATM cash solutions help analyze the demand patterns to effectively use cash across the network of the financial institution.
4.Improve Service It is quite costly as well as time-consuming for banks to service their network of ATMs. The ATM solutions come up with automated demand forecasting methods and tools that aid replenishment planning. This means cut down on personnel time and cost, and makes sure that the right amount of cash is delivered at the right outlet.
5.Ensures top-level service With an ever increasing size and complexity of ATM networks, ATM cash solutions help financial bodies minimize out of cash incidents at their outlets. It is necessary to make it a point that sufficient levels of cash is maintained across all ATM outlets, which is made possible through the use of these ATM solutions.
Some of the ATM Cash solutions in the market include
