News

Study: Why companies choose to replace ATM, branch keys, cards with single-access solution

November 19, 2019

After surveying 30 banks, ATM deployers, CITs and service providers, TMD Security, said Monday that it had uncovered three business reasons for replacing ATM and branch keys and cards with a single-access management solution. They included:

Operational cost savings,
Improved security,
Improved ATM availability.

Operational cost savings
Respondents cited today's key-holder processes as a major expense. Every routine service call that involved opening the ATM top box to service the card reader, for example, required a key-holder to accompany the service engineer, the company said.

"Business impact model analysis has revealed the staggering hidden costs associated with managing physical keys," Cees Heuker of Hoek, CEO and founder at TMD Security, said in the release. "Moving to a single integrated key-less access process for branches and ATMs results in huge savings.”

Improved security
Cards and access badges can be lost or stolen, and most can be illegally copied, TMD said. This old technology demands the use of CCTV systems and call centers, which are expensive to set up and run. A single access solution, however, provides a multilayered secure access process for all types of locks. The IDs of the user, lock and mobile are validated in a split second remotely at the time of use and because one-time-codes can be sent directly to the lock, codes do not have to be written down.

Improved ATM availability.
Survey respondents said off-premise ATMs could typically be out of service for three days, until a service engineer visit could be coordinated with a key-holder.

To help with the issue, TMD recently launched TMD Access Management, which removes the need for a key-holder because access is scheduled and approved remotely with a real-time audit trail. Also, Access Management removes the need to replace lost or stolen keys and cards and access can be instantly granted and declined when there is a change of personnel, according to the release.