When choosing an ATM partner, look beyond price and dig deeper into the hardware and software considerations. It’s also important to understand the history, resources, and stability of the company itself. Read on as Dolphin Debit looks at the impact of choosing the wrong ATM Partner.

An ATM management company recently failed to make necessary payments to the ATM networks as well as to service its loan debt, leading to insolvency and closure. The organization, which acquired smaller ATM ISO companies, has been shuttered by the federal government. The ATMs that were managed for clients are all out of service with the cash removed from the units. So, what can you do?

Many financial institutions suffering from this situation are in this position because when they sourced out to an ATM management company they chose the lowest cost option. While everyone wants to save money, it is much more important to understand the viability of the potential partner and compare the technology being offered. Just as not all ATMs are created equal, neither are all ATM management companies nor all ATM software and support.

Many ATMs used by these smaller ATM companies have smaller, less secure vaults. Vaults that can be broken into with a crowbar. In addition, the software used to operate and protect these ATMs lacks the sophistication to prevent malware attacks like the “man in the middle” attack that criminals have used to force ATMs to dispense all the cash within the unit. When a vendor spends less on hardware and doesn’t invest in proper software to secure the ATM, it can offer a cheaper fee to a client, but at what cost to customers? Many ATMs operated by these smaller companies have significant vulnerabilities and the companies lack the financial backing to defend against significant losses.

When choosing an ATM partner, you need to look beyond price and dig deeper into the hardware and software considerations. It’s also important to understand the history, resources, and stability of the company itself. There have been several ATM companies that suffered significant financial losses in the past two to three years. Make sure you consult with your league representatives to understand your options for your ATMs..

Dolphin would be happy to conduct a cost analysis and tailor a customized outsourced solution that will make life easier for you and your staff and perhaps reduce costs as well. For more information on how Dolphin Debit can simplify the management of ATMs and ITMs, please contact Sara Taddeo at 443-325-0781, or staddeo@mddccua.org.