ATM availability is an important metric — and one that is likely to influence a channel manager’s performance review. But even when an ATM monitoring system shows green lights, all may not be well within the channel.
Measuring the number of minutes an ATM is down does not accurately reflect the impact of lost revenue opportunities or the inconvenience to the consumer when their interaction fails.
If customers can deposit and withdraw cash, but the check deposit service is down, is the ATM really “available”?
If transactions from a specific card bin range are consistently failing, does it even matter how available ATMs are?
What if customer transactions are completing, but at a snail’s pace during peak period?
If a percentage of an ATM fleet suddenly becomes “unavailable,” how long does it take to determine whether the problem is with the network, an application module, a third-party service provider, a switch, or the ATM hardware itself?
Transaction level visibility can answer any or all of these questions. But establishing a truly granular level of detail within an ATM network requires an additional investment in real-time transaction monitoring and analytics software. And with financial services budgets becoming ever more constrained, it takes a strong business case to justify new software that provides data that some decision-makers might be inclined to dismiss as “unnecessary minutiae.”
Looking for “easy-to-digest” case studies and models that actually quantify the recovered revenue and labor cost reductions achieved through more effective ATM monitoring and transaction analytics? Read this article in ATM Marketplace.