How It Works
- Paramount Management Group has contract with retailer to install ATMs in retail locations.
- Paramount Management Group owns, manages, and operates the ATMs.
- Paramount Management Group partners with a bank to brand the ATMs.
- Branding Bank displays signage, logo, screen sets and other advertising material on the ATM and/or merchant location to the extent allowed.
- Bank cardholder enjoys convenience of expanding ATM coverage and surcharge-free transactions.
Equipment and Operations
- Paramount Management Group installs ATMs that are ADA Compliant with triple DES and voice guidance in all our stores.
- Paramount Management Group will be responsible for installation, maintenance, operation, and overall management of the installed ATMs.
- Paramount Management Group will provide vault cash for program.
- Paramount Management Group will connect the branded ATMs to the processing network via broadband or wireless communication devices.
- Paramount Management Group will be responsible for first and second line maintenance (FLM/SLM).
Why Banks Brand
- Preserve – existing market share in their current footprint.
- Penetrate New Markets – through retail locations.
- Brand Awareness – create and strengthen brand awareness.
- Low Cost – provide a low cost opportunity to expand ATM network.
- Advantage – provide more convenience to current and prospective bank customers to attract and retain deposit accounts.
Consumer studies regarding value of ATM channel:
- ATM withdrawal fees ranked as most important feature in consumer’s choice of a DDA – 1.5x more important than branch location. (GCI/McKinsey & Co.)
- Proximity to home and work identified by surveyed consumers as the most important factor in selecting a bank – 1.4x more important than free services. (J.D. Power and Associates)
- Accessibility identified as the most influential attribute affecting a consumer’s choice of financial institution – 1.7x more important than good service. (Maritz)
- ATM access was the most important factor in choosing a bank for 92% of survey respondents. (ATM & Debit News)
- Location of ATMs or offices accounted for approx. 20% of retail DDA attrition. (Federal Reserve Board)
- Cardholders are 3.5X more likely to use a bank branded ATM vs. non-branded. (ATM & Debit News)
- Consumer Cardholders will recognize your branded ATM as a reference point to get cash and purchase goods with repeat sales and loyalty to your store’s brand.
Branding Transaction Effect
Once branded with a bank, new surcharge transactions hit 2X existing volumes.