German bank outsources ATM cash management to Diebold Nixdorf

Germany's Degussa Bank has elected to outsource management of the cash supply chain for its 220 ATMs to Diebold Nixdorf.

The offering, part of Diebold Nixdorf AllConnect Services, covers everything from provisioning and operation of the ATMs to cash supply and implementation of banking requirements such as account reconciliation.

Diebold Nixdorf is partnering with the German licensed bank Reisebank, which will assume responsibility for cash and asset management for Degussa.

Providing customers with access to cash continues to be an important service for Degussa Bank; however, the FI concluded that it would be more efficient and less expensive to outsource ATM cash operations to a specialized provider.

"A single source for all our cash supply services means we benefit in several ways: Fewer funds will be tied up when our ATM network is renewed; we will need fewer resources to meet legal requirements; and all the service providers involved will be controlled centrally," said Uwe Hasse, a service provider manager at Degussa Bank. "As a result, the management team can concentrate more intently on issues related to the digital transformation."

"More financial institutions worldwide are recognizing the advantages of 'as-a-service' business models compared to managing these types of complexities in-house," said Olaf Heyden, Diebold Nixdorf senior vice president of services. "They gain greater financial flexibility and speed, benefit from our decades of experience and high economies of scale, and can concentrate fully on their customers."

Topics: ATM Management, Bank / Credit Union, Outsourcing, Vault Cash / Cash Management

Companies: Diebold Nixdorf

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