The ATM managed services sometimes well-known as ATM-as-a-service are a professional and wide-ranging suite of services providing to quite a few banks, financial institutions, and other business persons installing ATM machines for their business. It deals and engrosses with several offerings comprising cash management, surveillance, maintenance & caretaker services, ATM replenishment & network monitoring, ATM procurement & deployment, and several others. Furthermore, the ATM manages services delivers the banks, financial institutions, and numerous other entities with an opportunity to take full advantage of their functional efficiency, to develop the performance, profitability, to aim on more productive tasks, and improve better cardholder satisfaction in terms of ATM services in the market.
The UAE ATM managed services market was experimental to be functioning at its growth stage, forthcoming maturity as banks and ATM managed services corporates begin investing in groundbreaking technology to automate their services. The market is projected to increase in size owing to the augment in cash management services market. Banks in UAE have taken several steps in order to decrease the overall costs of operations. Separately from outsourcing management of the ATMs, banks have begun decreasing their commercial footprint by terminating down branches, merging with other banks and investing in technology-based services to decrease the reliance on ATMs for customer services.
Whereas, the Saudi Arabia ATM Managed Service Market has observed strong growth owing to augment in number of ATMs, higher requirement of outsourcing services to managed service providers, deduction in prices charged over the years, augmentin initiatives taken by SAMA to encourage financial inclusion and the augmenting the number of local and international players around the Kingdom. The industry revenue witnessed a five-year CAGR of close to 5% throughout the review duration (2013-2018). The market is presently in the growth stage with a strong opportunity for further improvement at a faster pace with positive trends projected in the industry. Profitability linked with ATM managed services is greatly correlated with several factors such as developing the procedure of cash withdrawals in the ATM, augment in number of ATMs, introducing fresh breed of ATM machines, developing in customer retention schemes and relationships for lengthier contracts, having differentiated services portfolio with trained professionals.
Furthermore, Banks, financial institutions, and several others are integrating digitalized technologies to improve the revenues and deliver convenience & efficiency services and decrease the operational costs for their installed ATM machines. As with an employment & implementation of digitalized technologies such as self-service software, EVM chip cards, mobile-based technology, Internet of things (IoT), and several others delivers easy access to numerous complex services such as transfer of money between accounts, check authorization, and bill transfer, amongst others. Furthermore, outpouring in debit cardholders is another propelling aspect in the ATM managed services market, as customers tend to project instant & advance ATM services for withdrawing cash and availing other such services.
Not only has this, augmented ATM machines around the Asia-Pacific region is one of the major aspects expected to deliver the lucrative opportunities in the market. As the increasing consumer’s expectations toward the advance ATM services tend to augment in the region owing to augmented mergers & acquisitions predominantly in the banking sector are taking place in such untapped economies. This, as a result, projected to provide worthwhile opportunities for ATM managed services delivers to enlarge their offerings and develop their prevailing portfolio in the upcoming years.
Related Report: –
Indonesia ATM Managed Service Market Outlook to 2023 – By ATMs (On-Site ATM, Off-Site ATM, Mobile ATMs), by Service (Cash Management Services, ATM Repair & Maintenance, ATM Site Maintenance & Others- Journal Management & ATM Reconciliation), By ATM Machine (Cash Dispensers, Cash Recyclers) and By Cash Management Services (Cash Replenishment Service, Cash-in-Transit, Others – Cash Processing, Cash Vaulting & Cash Forecasting).
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Ankur Gupta, Head Marketing & Communications