STRATEGIC PARTNERS
May 7, 2003
Date: 11/16/01
Many financial institutions know that collecting ATM journals stored on paper rolls and diskettes can be cumbersome and expensive. Paragon's Automatic Upload Facility™ (AUF) enables financial institutions to reduce or eliminate those costs while improving customer service.
Raleigh, North Carolina-based First Citizens Bank, one of the top banks in the nation, with more than $9 billion in assets, knows the importance of AUF.
"We wanted to improve our ATM availability and changing journal tapes can affect that," said Johnson Davis, First Citizens Bank's SVP Service Management Department. "By using AUF, we're reducing the number of ATM outages by 20 percent; we're saving money by not having as many service calls or purchasing as many journal paper supplies; and most importantly, our machines are remaining available to customers."
AUF allows the scheduling, capturing, and archiving of ATM journal information that was previously available only on journal paper rolls or diskettes. AUF also makes the journal information available for on-line searching and browsing, which means customer inquiries and suspect transactions can be resolved quickly. With AUF, electronic journals are retrieved without any effect on the ATM's financial transaction processing. There is no need to take ATMs out of service to retrieve journal paper or to copy the electronic journal to diskette.
Peter Sturgess, Paragon's Vice President, points out, "For financial institutions with remote ATMs, AUF offers substantial savings by reducing the fees paid to third-party service providers, but that's not the only way the financial institutions save. Electronic journal support in ATMs is less expensive than buying the alternative printer mechanism for journaling. In addition, the ATM manufacturer's maintenance fee is lower for ATMs with electronic journals. AUF is particularly appealing because banks can save money and enhance customer service at the same time."
First Citizens' Davis says AUF took no time to implement and it works. "Our AUF installation went as smoothly as we've ever had. In two days we had AUF up and running, and we've been using it successfully ever since."
Reduced expenses, improved customer service-AUF provides automatic uploads that don't let anyone down.
