There is a service that is becoming increasingly popular around the world. ATM pooling allows banks to transfer or outsource ownership of their ATMs to a third party. This allows banks to offer their customers a better customer experience and a wider range of ATM locations to choose from. This type of service is especially important for banks trying to reach out to traditionally underserved markets.
By pooling, banks can also cut their bottom line. Pooling allows banks to eliminate redundant ATMs, resulting in lower placement and upkeep costs. Pooling can take the form of off-site ATM pooling, in-branch, shared branch, or ATM-as-a-service.
Banks who pool their ATMs at branches allow customers from other banks to use their ATMs. Pooling at a shared branch allows for ATMs to be placed where multiple banks share a space, which can also meet the needs of the traditionally underserved and underbanked members of society.
With more and more banks seeking ways to transform customer service, ATM pooling can be a low-cost solution to providing an increasingly positive customer experience while also cutting costs.