Who is Cardtronics?
Cardtronics is the largest ATM operator and specialist in the world. We provide services to approximately 237,000 ATMs in 11 countries in North America, Europe, Asia Pacific, and Africa. Our experts partner with over 2,300 financial institutions and world-leading retailers to help them ensure their account holders and customers have convenient and easy-to-use access to cash and other transaction banking services. We offer financial institutions expanded points of presence by placing their brands at our retailer-based ATMs, and have built the world’s largest surcharge-free network – Allpoint – which gives customers of member financial institutions access to a network of more than 55,000 ATMs worldwide.
We hear a lot about change in the financial services field. What do you see happening in the industry and what has been Cardtronics role?
Innovations in digital technology, as well as in customer experience delivery, have caused consumers to expect services – even from that age-old institution, banking – that are on-demand, self-directed, and frictionless. This shift in customer expectations is transforming how banks and credit unions deliver those services.
The transformation has probably had the most impact on the bank or credit union branch. Online and digital tools are attracting customers away from the branch, and financial institutions are redeploying more capital funds to more technology. As these funds are shifted, branches are being downsized or closed, while others are redesigned to meet customer desire for consultative services. As a consequence, as the traditional branch goes, so goes the presence of the ATM.
However, the demand for cash continues to grow and remains a preferred payment method as demonstrated in the findings of our recent Cardtronics’ 2017 Health of Cash study. And the ATM is a primary way to obtain that cash.
At Cardtronics, we believe a deeper partnership between financial institutions and ATM specialists is the way forward, both in the U.S. and worldwide, as the banking industry goes through this transformation and re-shapes its physical footprint.
What do you see as Cardtronics biggest opportunity in the near future?
To handle this transformation effectively and cost-feasibly, banks and credit unions must develop their physical channels with a clear focus on automation and self-service solutions. For this reason, earlier this year Cardtronics launched our OnATM solution suite as the go-to solution for financial institutions that are currently re-thinking how to compete digitally, while still maintaining a strong physical presences, as well as local access to basic banking services. One could liken OnATM to the next generation of ATM outsourcing, and that’s where we see our greater opportunity.
The modular structure of this suite allows banks and credit unions to tailor solutions that fit the specific needs of the institution and its market. For example, in North America, we are enabling a large bank to adopt a more digital-first mindset, modifying its physical form and function to specific markets or segments, with ATMs being essential to meeting customer needs for cash access and other self-service activities as part of a more variable physical location experience strategy. And in the UK, another OnATM solution called OnHub, will utilize our experience in serving bank-less communities. Branded “Bankzone” and developed in partnership with banks, OnHub will offer almost all basic services needed on a day-to-day basis via transaction hubs where consumers can withdraw or deposit cash, and businesses can make deposits at bag drops, as well as stock up on currency.
In addition to Allpoint Network, which was mentioned earlier, the OnATM suite also includes OnPoint, through which banks and credits unions can leverage Cardtronics’ extensive ATM portfolio to extend their points of presence, increase cardholder convenience, and do both without owning the capital outlay; and OnBranch, which offers high-quality, cost-effective management of bank-owned ATMs through our team, on- and off-premise, wherever they may be.
Just as digital services are critical to financial institutions today, helping to ensure that their customers have local access to basic physical banking services, including cash, is equally important. And that’s where Cardtronics’ future lies.
