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Paramount inks ATM agreement with Puerto Rican financial institution

December 14, 2018

Paramount Management Group has entered into an ATM management agreement with Cooperativa de Ahorro y Credito de Lares in Puerto Rico, according to a press release.

Paramount subsidiary Sharenet will provide complete ATM outsourcing services to LarCoop ATMs. Sharenet has had a presence in Puerto Rico since 2008 and currently provides ATM solutions to more than 27 financial institutions across the island, as well as to Walgreens drugstores on the island.

"We are proud to expand our ongoing relationship with LarCoop, and this new agreement is a reflection of the trust we have earned from our customers," Paramount Chief Marketing and Data Officer Jorge Fernandez said in the release.

"We have made substantial investments in expanding our ATM offering in Puerto Rico and helping our local financial institution customers recover from the effects of Hurricane Maria," he added. "We are committed to the island, its recovery and (we) assist our customers to reduce costs and improve ATM functionalities."

"We are grateful to the entire Paramount and Sharenet team for their diligence in bringing our new branches live and with the superior level of service they have provided our ATMs," LarCoop CEO Jose Marrero said. "Our members expect superior service levels at our ATMs, and the Sharenet team have delivered on that commitment."