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Archive for March 2010

ATM Network moves customer statements online

Monday, March 29th, 2010

Tax time can be a headache for many small business owners. It’s not just that business tax rules can be confusing and arbitrary. Spring is the time when you have to go through a year’s worth of saved receipts and paperwork, trying to find a specific number or form, and hoping you didn’t accidentally throw out or misfile an important piece of paper.

At ATM Network, we understand this very well. Every year at this time we get a lot of calls from our customers. Usually it’s because their accountant needs to know how much money they made on their ATMs last year, and they didn’t save all the monthly statements we sent them with their checks.

It’s an even bigger headache for people who own a lot of ATMs. Someone with 80 machines has to keep track of — and add up — nearly 1,000 different monthly statements. The headache can be enormous.

Then there are the checks themselves. Paper checks can get lost, stolen or damaged. They take days to arrive. And machine owners have to take them to the bank, physically endorse them and deposit them.

At the end of 2009, ATM Network took a big step toward making things easier for customers by switching from paper checks to electronic payments. Customer profits are deposited directly in their bank account — automatically, without risk, and usually 10 days or so earlier than with paper checks.

Now ATM Network has taken the next step with Webstatements, its online statement archive.

Instead of receiving and storing a paper statement, customers can login to their Webstatements account to view their machine’s financial results.

They can see total activity for all of their machines, or view each machine individually. They can sort results by month and year. And if they do want paper copies, they can print out individual statements for all of their machines with a single click of the mouse.

The online statements contain all the information that used to be on ATM Network’s paper statements: profit information, daily activity, network activity, and more. So it’s easy to see at a glance how a machine is being used and how profitable it is.

Webstatements works in conjunction with ATM Portal, an online reporting service that tracks up-to-the-minute activity and keeps track of daily operating items like how much cash remains in each machine. ATM Portal provides daily reporting; Webstatements provides monthly summaries, as well as customer-specific financial information unavailable through ATM Portal.

It’s just one more way that ATM Network provides its partners with top-of-the-line service and accountability.

ATMs: from afterthought to vital link

Wednesday, March 24th, 2010

The latest issue of Credit Union Times traces the adoption and spread of ATMs by credit unions, starting in the 1990s, charting the machine’s rise from a novelty to a mainstay of the credit-union industry.

Since 1990, the lowly ATM has moved from being little more than an adjunct to a credit union or bank’s branch structure to being a significant part of customer service strategy and the average retail landscape today, industry executives said.

“In 1990, ATMs were like extensions of bank [or credit union] branches so most ATMs were located at, or close, to branches,” explained Michael Lee, CEO of the ATM Industry Association, an international organization that represents ATM manufacturers and deployers. There were only about 85,000 to 150,000 machines in those days, and they were virtually all tied to bank or credit union branches.

As we’ve noted before, loosening restrictions on ATMs is what drove the explosion in ATM usage:

“The big revolution in the U.S. ATM in this time period was the introduction of surcharging in 1996,” Lee said. The surcharge fee paid by consumers using an ATM not belonging to their bank increased from zero in 1996 to an average of roughly $1.50 in 2003, he added, citing the Federal Reserve. “The fee allowed ATM owners to take ATMs to nonbank areas in the retail sector, closer to where consumers live, work and shop. The fee provided the economic stimulus for the huge growth of the retail ATM.”

And oddly, the explosion of competing retail ATMs helped drive the development of credit union and bank ATM networks. Once people began to see ATMs as a normal part of their financial lives, two things happened: They demanded more and better access to them, and they became more open to using ATMs for a wider range of financial transactions.

Which is why ATMs today do everything from dispensing cash to taking deposits to selling stamps and insurance. 20 years ago, few people would have trusted a machine with such transactions. Today, they don’t think twice about it.

NCR names new CFO

Monday, March 22nd, 2010

ATM manufacturer NCR Corp. has named Robert Fishman as its chief financial officer.

Fishman has been the acting CFO since October, when then-CFO Anthony Massetti resigned to take a job with Avaya Inc., a communications-services provider. He also served as interim CFO from May 2007 through January 2008. He has been with the company since 1993.

“Bob’s proven himself to be an outstanding contributor throughout his career at NCR,” said NCR’s chief executive officer, Bill Nuti. “He will facilitate a seamless transition with our senior leadership team and the finance organization. In addition to a very strong background in finance, Bob brings an invaluable depth of NCR experience to the CFO role. He’s built great teams and helped manage through some of the most complex periods in recent company history.”

an ATM finder for your Blackberry and iPhone

Tuesday, March 16th, 2010

Here’s a cool application that could mean more traffic for your ATM:

MasterCard Worldwide has announced the launch of the MasterCard ATM Hunter application for BlackBerry smartphones that allows users to easily locate the nearest ATM no matter where in the world they are.

The application first came out for iPhones, and is now available for Blackberries. It uses uses GPS technology to show users the nearest ATMs. They can sort by things like surcharge and accessibility (wheelchair, drive-up, 24-hour) and then get directions.

If the phone doesn’t have GPS-capabilities, users can consult a database of ATMs to find one near them.

There’s even an online version for those of us playing at home.

The application is free. You can download it from the iPhone App Store or Blackberry’s AppWorld.

Nautilus Hyosung America names new CEO

Monday, March 8th, 2010

The U.S. branch of ATM manufacturer Nautilus Hyosung is getting a new CEO and president.

Charles Jung, an executive vice president at Hyosung, replaces Chan Park, who has run the division since 2007. Park will return to Korea to focus on global finance, human resources and procurement for the company.

Jung has a doctorate degree in computer science, and spent 17 years working for IBM in the United States before joining Hyosung.

In his new job he will oversee operations in both North America and South America from the company’s regional headquarters in Texas.

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