Hyosung Americas, the world leader in recycling ATM technology, today announced their launch of the next generation of ATM cash recyclers. The three new models, which include the first island drive-up recycling ATM in the world, set the performance standard for the self-service branch banking solutions industry. They complete Hyosung’s family of nine ATM recyclers, seven for consumers and two that are teller-facing.
In the first 50 years since it was introduced in 1967, the ATM didn’t change much, offering the same basic functions like withdraw cash, deposit funds and check account balance. ATMs are finally beginning to play a different role, however, thanks to a movement known as bank transformation. As banks redefine themselves to meet the demands of a digital age, ATMs are becoming physical touch points, keeping banks connected to their customers in a way that mobile apps cannot.
There is a new form of malware circulating in the United States known at Jackpotting. It is based off Ploutus.D strain of malware first seen in 2013 in parts of Mexico, Europe and Asia. Late last week, this exploit was officially seen in the US and generating concern from ATM owners and operators.
Jackpotting is a physical attack at the ATM where an attacker installs the malware via a thumb drive or CD and can then issue a command to the ATM forcing the unit to disperse cash on demand. Further, the malware can be installed and then accessed at a later date adding a layer of confusion as to when and how the attack may have occurred.
Bancsource has a solution for attacks like this via our Managed Services offering called ManagedSource. Through ManagedSource, we have the ability to harden the ATM from these types of attacks with USB port lockdown, optical drive lockdown, live antivirus and malware detection as well as live definition updates allowing you the customer to be better protected as new threats arise.
With technology continuing to evolve, banking executives must consider and implement changes to remain profitable.
Step 1: To Close or Not to Close.
Contrary to what you may have heard, closing branches does not always improve profitability. Convenient branch access is high on the list of priorities for consumers who are looking for a bank. While many consumers do prefer to use their personal electronic devices to check account balances or make deposits, a large percentage of the population still want a brick and mortar branch where they can get cash, pay their bills, or open new accounts. And, contrary to popular belief, even Millennials prefer dealing with a traditional branch when issues need to be resolved regarding their accounts or when seeking advice on larger more complicated financial transactions. Whether you consider closing or transforming an existing branch, it’s important to take time to evaluate your market, branch location and customer.
Consideration: When trying to determine if closing a branch is the route to take to improve profitability Bancsource can help with consulting and distribution strategy resources.
Bancsource is committed to the continued development of our most valued resources, our team members. We have a number of different learning vehicles available, both in person and virtual. Adobe Captivate Prime is Bancsource’s customized learning management system, a robust system that allows our technicians access to a virtual learning portal.
At Bancsource we are committed to serving our local community. This year we are excited to announce that Bancsource is now an official 2017 Day of Caring “Platinum Paintbrush” sponsor for the local United Way branch in Springfield, MO.
During the last decade, community banks in the U.S. may have faced more stress than in any previous period.
There s the rise of national and nonbank lenders, the increase in regulations and compliance costs,Â the unprecedented and ongoing technology demands and the dramatic shifts in consumer behavior.Â One result? Reduced average return on assets.
An Old friend with new ideas, Roswell, New Mexico-based Pioneer Bank is fighting back. In the latest in a series of steps, the Federal Savings Bank is replacing its ATM fleet and two branches with advanced self-service and video-assist ITMs before year s end.
If RCB Bank is any indication, some community banks are taking their own lead and rapidly implementing branch transformation strategies tailored to their particular and sometimes wildly varying customer bases.
Based in Claremore, Oklahoma best known as the home of Will Rogers and the setting for the musical Oklahoma! RCB has more than 40 branches serving everyone from older populations in rural towns of 500 people to millennials in the college towns of Norman, Oklahoma City, Stillwater and Claremore.
The Springfield Business Journal featured Bancsource in its Business Spotlight section in print and online in April. Written by reporter Zach Smith, who spent an afternoon at the new Bancsource headquarters in Springfield, the article focuses on Bancsource’s culture shift since being acquired by Cleveland-based private equity firm CapitalWorks in 2015.
The article includes quotes from Bancsource CEO Mychal Kempt and Regional Vice President Brent Burleson as well as Bancsource customers Christy Wild, assistant vice president at RCB Bank and Leah Jo Morgan, vice president of IT and operations at Grand Savings Bank, both based in Oklahoma.
SPRINGFIELD, MISSOURI – Nationwide multivendor banking equipment and maintenance services company Bancsource has launched CustomerSource, a new self-service customer portal.
CustomerSource provides Bancsource customers 24/7 access to real-time and historical information on service calls status, contract documents and financial details. This includes invoices, line by line tax items, order history, outstanding balances and managing their relationship with Bancsource holistically.
“CustomerSource puts power into the hands of our customers and is unique in our industry,” said Tahnee Puckett, Bancsource’s chief information officer. “No other company in banking equipment maintenance offers an online portal like this.”
Customers can now place service calls online at any time, check estimated time of arrival, view remote image capture and pull historical service call information.
“We developed CustomeSource from listening to our customers and adapting to their needs,” Puckett said. “It enables us to turnaround customer requests quicker than competitors.”