AUGUST 19, 2014, Mt. Prospect, IL— Community banks have long differentiated themselves by the personalized, local service they provide to their customers. But what happens when the level of service that community banks expect to provide to their customers isn't matched by the service level banks receive from their vendors?
If core, customer-facing technology – such as ATMs or self-service kiosks – isn't backed by the same local, personalized service, it can lead to critical operational and customer satisfaction issues. Not to mention making it difficult for community banks to realize a true ROI from their technology investment. Cummins Allison, the leading innovator and provider of check, currency and coin handling solutions as well as ATMs, shares how community banks can avoid this service gap with up-to-date technology and selection of the right technology vendor.
Avoiding the Service Gap
In today's fast-paced environment, community bank customers don't have the patience for "out-of-order" or slow performing equipment – especially technology many use daily, like ATMs. Unfortunately, as some large vendors have been forced to scale back and/or outsource service personnel and resources, many community banks have fallen into a service gap.
In the financial services industry, the service gap is not only frustrating; it can harm an institution's reputation and bottom line. If your community bank is experiencing service related issues with core technology, such as ATMs, it's time to ask: what is the cost in terms of lost revenue, decreased customer satisfaction and declining ROI?
Unfortunately, investing in the latest ATM technology is not a sure fire way to avoid the service gap, as even best-in-class machines require periodic maintenance to keep them operating at peak efficiency, as well as immediate attention to handle any necessary repairs. It's critical that technicians work closely with the branch to understand how the technology is working, what new features are most appropriate for the needs of the branch, and ensure that these insights are turned into action.
Optimize Technology Investments with Personalized Service and Support
Once the decision is made to replace poorly supported ATM technology – the cost of which is oftentimes less than anticipated – community banks should select a vendor that offers an integrated approach to sales and service. This will ensure maximum consistency, reliability and convenience that will increase the performance of ATMs and optimize the technology investment.
Look for the following attributes when selecting a technology partner:
Multi-level support: Highly trained service technicians that can handle routine preventive maintenance and any issues that require immediate attention, as well as a customized service level support that is backed by knowledgeable, experienced service managers and a dedicated Advanced Technical Support department.
Fast, easy access to service: A single phone call should connect to a service branch for quick dispatch for emergency service calls and the best possible response times.
Consistency of service and equipment: Manufacturer-trained technicians for assurance of the most up-to-date working knowledge of the equipment. Availability of only authorized spare parts stocked at multiple levels, including an emergency ordering system.
Preventive maintenance: A comprehensive Preventative Maintenance Agreement that helps improve ROI by extending the productive life of the machine prevents small problems from becoming large ones and makes it easy to budget operating costs.
It's important to carefully select a vendor that can deliver the same level of service and support that a branch provides to customers, which can only be achieved by partnering with a vendor that offers local, highly personalized service. To learn more about how community banks can avoid the service gap, visit www.cumminsallison.com.
About Cummins Allison
Cummins Allison is the leading innovator and provider of check, currency and coin handling solutions, as well as full-function ATMs. Our world-class sales and service network includes hundreds of local professionals in more than 50 offices in North America, 6 wholly-owned subsidiaries and is represented in more than 70 countries around the world. For more information about our award-winning solutions, visit cumminsallison.com/ATMs.