In order for your ATM business to flourish, you will need to partner with the right ATM processor. An ATM processor serves as the communication between your machine and the banking networks so users can remove and insert their funds.
It has never been more important to manage your ATM fleet to offer best-in-class support for your customers. The continued growth of omni-channel banking means there are multiple ways for potential clients to interact with their banks daily, and selecting to interact with their bank via your ATM machine is a choice. Your goal, as the business owner, should therefore be to make the customer’s choice to interact with your machine as seamless and simple as possible.
Nacha is continuing to crack down on auditing for all Third-Party Service Providers and Third-Party Senders. In order to remain in compliance, these entities must conduct an audit of compliance by December 31, 2020. Many myths surround the Nacha audit, and at EFX, we are working to dispel them to help our clients.
Did you know that recent changes to Nacha Operating Rules require that all Third-Party service providers and Third-Party Senders must conduct an audit of compliance by December 31, 2020? If you are unsure of the new rules, how to remain in compliance, or need guidance navigating your annual audit, EFX may be able to help by recommending an accredited auditing firm.
ATM technology is advancing to accommodate changing consumer demands. Compared with other tech-centric industries, recent technological advances in banking have either remained stagnant or lagged significantly. However, new technological advancements may see digital progress quickly approaching for financial institutions, particularly when it comes to ATMs.
