Skip to main content

Improving Operational Efficiency Via the ITM-ATM Channel



Joe Woods, CUDE

SVP, Marketing & Partnerships

Dolphin Debit Access

 Improving Operational Efficiency Via the ITM-ATM Channel

It has been said again and again that our job economy remains strong.  Companies are reportedly hiring new employees, whether it is to fill a vacancy or expand operations.  However, this is not what I am experiencing as I go about my professional and personal life.

I repeatedly run into “longer than normal” call wait times when dealing with a customer service issue over the phone.  One such situation with a cable company that promised to “wow” me, caused me to spend over 45 minutes on hold on three separate occasions just to speak to a representative.  Online help chats are even taking far too long to switch from the AI bot over to human interaction.  And I still see many lobbies and restaurants that have closed their in-store service indefinitely. 

It is clear to me that numbers are askew when it comes to “official” claims regarding employment figures but what are we as credit unions to do?  Where is the slew of quality, dependable people wanting to earn a decent living?  How do we adjust our operating procedures to accommodate a smaller staff at our branches and administrative offices? 

Human Resources will continue to search for reliable new employees to hire but this takes time.  Even the right hire from HR doesn’t always translate into a solid, long-term employee.  So, how do we operate short-staffed?

What if we turn our attention to the operational tasks we burden our staff with that can be better placed in the hands of a trusted partner? Have you considered outsourcing your ATMs (or ITMs)?  99% of the industry has outsourced the operation of its core operating system and credit and debit card services.  ATMs should be next on your list to outsource for several reasons.

Your staff time is critical.  Enabling your staff to focus on your members is of the utmost importance.  Anything operational that pulls your staff away from this focus should be put on the list for outsourcing consideration. 

ATMs are a very cost-effective means for members to access their cash & make deposits.  However, they can be a drain on your staff’s schedule.  Some credit unions have indicated they spend 40+ hours of staff time on just 10-20 ATMs.  What would the impact be for your sales and retention efforts if you could redirect 40 hours of existing, quality staff time back to a member focus?

Another reason to consider ATM outsourcing is the cost associated with hiring employees to manage your ATMs. We like to call it a soft cost, but a mid-level FTE salary and benefits package has a direct impact on the bottom line.  Even a reasonable compensation package of $55,000 adds over $4,500 to your monthly ATM bill. 

You can eliminate the time spent as well as the costs associated when you outsource your ATM & ITM fleet.  Put experts in charge of your program now so you can sell your existing ATM assets to your outsourcing partner and eliminate the hassle right away.  

Joe Woods, CUDE | SVP, Marketing & Partnerships

Dolphin Debit Access, LLC | 1340 Rayford Park Rd., Spring, TX 77386

jwoods@dolphindebit.com 
(M) 614-378-0367

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Let the Truth be Told - Why a New NCUA Rule Could Jolt Credit Union Innovation

The National Credit Union Administration has finalized a rule to improve board and executive succession planning within the credit union industry. This strategic move aims to curb the trend of mergers driven by technological stagnation and poor succession strategies, ensuring more credit unions maintain their independence and enhance their technological capabilities. By Ken McCarthy, Manager of marketing communications at Tyfone Credit unions are merging out of existence because of an inability to invest in technology, the National Credit Union Administration Board wrote when introducing its now finalized rule on board succession planning. The regulator now requires credit unions to establish succession planning for critical positions in their organizations. But it’s likely to have even wider effects, such as preserving more independent charters and shaking up the perspectives of those on credit union boards. “Voluntary mergers can be used to create economies of scale to offer more or ...
Post a Comment
Read Complete Article HERE>»

Armand Parvazi MBA CUDE - Last Friday marked his last day with New Orleans Firemen’s Federal Credit Union.

It’s been an incredible journey, but it’s bittersweet to announce that Friday marked my last day with New Orleans Firemen’s Federal Credit Union. We've accomplished so much together in my six years as Chief Administrative and Development Officer. Some of the highlights: Implemented a data-driven marketing strategy that delivers over 1,800% annual ROI. Developed automated triggers to ensure members receive the right offers at the right time. Grew assets by 61% and increased products per new member from 1.88 to 2.62. Converted online banking to enhance the member experience. Introduced a loan origination system for faster and more efficient loan processing. Transitioned to a mobile-first financial institution to meet members where they are. Pioneered the first Cancer Care loan pause program in the nation (in collaboration with Andy Janning ) Secured nearly $17 million in grants for our impactful work. Expanded our field of membership to 35 parishes and counties and added numerous fi...
Post a Comment
Read Complete Article HERE>»

Biggest Social Security Changes for 2025

  Chris Gash Facebook Twitter LinkedIn Monthly payments are going up, and drop-in service at SSA offices is largely going away The  cost-of-living adjustment  (COLA) may be the most widely anticipated way Social Security changes from year to year, but it’s far from the only one. Inflation, wage trends and new policies directly affect not just the more than 68 million people receiving Social Security benefits but also the estimated 184 million workers (and future beneficiaries) paying into the system.  Here are seven important ways Social Security will be different in 2025. 1. Cost-of-living adjustment Inflation continued to cool this year , resulting in a  2.5 percent COLA  for 2025 for people receiving Social Security payments, down from  3.2 percent in 2024 . The estimated average retirement benefit will increase by $49 a month, from $1,927 to $1,976, starting in January, according to the Social Security Administration (SSA). It’s the lowest COLA i...
Post a Comment
Read Complete Article HERE>»