How Banks Can Cut Costs with a Single Service Point of Contact for Equipment Servicing

    Feb 27 2019

    Topics: Bank Branch Service Solutions

    Banking has been undergoing a revolution. As more people adopt fintech products like mobile banking apps, the bank branch has become less central to many of your clients. Nonetheless, branch service is important when a customer wants to conduct a face-to-face transaction. Some people still make regular use of a bank branch.

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    You must be ready to service customers when they arrive, and ensuring you have the right equipment on hand is key to customer satisfaction. Faced with rapidly declining transactions, you need to find ways to make sure your branches stay profitable. When retail branch operations comprise up to a third of your operating expenses, you know this is one area where savings will make a difference.

    If you’re hoping to cut costs, consider a single service point of contact for your bank branch equipment. It could be the answer you’re looking for.

    Getting an End-to-End Solution

    One of the reasons the costs for your bank branch operations add up is because you’re working with several different providers to get the service you need. Think about the supply chain for your branch equipment. You likely work with one supplier to acquire the hardware, then another to service it, and even a third or fourth if you require replacement parts. Alternatively, you may have separate providers for all different types of branch peripherals. You may even have different vendors for reporting and training.

    Now imagine you have three or four vendors for each type of equipment you need in your branch. It should be little wonder your costs are as high as they are and you’re having difficulty controlling them.

    An end-to-end solution could change that. With all-branch service, you work with one provider from acquisition through training to warehousing and maintenance.

    How Does This Save Money?

    Vendor consolidation often results in significant cost savings for any business.

    It ensures the provider has more control and visibility over the processes and equipment you’re using, which can decrease expenses.

    Improving Security and Efficiency

    Vendor consolidation isn’t the only cost-saving effect of moving to an end-to-end solution for all your bank branch peripherals. All-branch service can also improve your security and the efficiency of your operations.

    Imagine a scenario where you need to call someone in to fix a pin pad overnight. Your usual service provider doesn’t conduct emergency repairs, so you’re stuck contacting yet another vendor to get the machine operational as soon as possible. Your other option is to leave it unrepaired for some time. Downtime can be even more costly.

    With an end-to-end solution, you can get the service you need much faster. This reduces downtime and improves efficiency.

    Security is also enhanced when you work with a single service point of contact. With a multi-pronged service solution, your devices could end up in the hands of several different vendors. This compromises device accountability and security. The single point of service helps you keep better track of the device and where it’s been.

    Enhanced security can save you money. Banks like yours suffer from a loss of consumer trust when equipment is compromised, making the financial implications even more important.

    Find an End-to-End Solution and Start Saving

    If you’re ready to streamline service, improve security, and boost efficiency for your bank branch, it’s time to get in touch with a solution provider. They can help you design the right solution for your bank branch and take the headaches out of maintaining your bank equipment.


    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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