F@ST Abacus was employed by a Turkish bank to manage its off-site ATM location selection process.
One of the biggest private banks and ATM deplorers in Turkey kicked off the ATM solution pilot of F@ST Abacus, early October, 2011. The software solution is supplied by GRGBanking. The bank is considering using the software solution to manage and improve its off-site ATM location selection process.
F@ST Abacus is an intelligent ATM location selection and analytic management platform. It provides standardized investigation method and scientific evaluation rules, helps banks selecting suitable locations and keeps track of the on-site investigation team performance.
Location is the most important factor for ATM deployment, since more than 80% of ATM efficiency and profitability is decided by the location selection. Research showed that placing the ATM in a highly visible and impulse-friendly location traditionally will increase transactions by 25 to 30 percent.
Currently most of the banks still investigate for ATM location and make decision by experience and even intuition. There are no standardized or unified method to investigate and no scientific evaluation rule to follow. As a result, it takes high cost and enormous time for banks to “bet” on the possible ATM location.
The software solution provides standardized forms to the on-site investigation team, and enable the manager to real-time monitor and react quickly to the progress, and integrates all relevant information including pictures, videos, maps, emails, etc as well. Research found out, within two years a medium size bank in China successfully raised annual revenue by four times, and cut related labor cost by 60% of its 100 off-site ATM with the help of F@ST Abacus.
GRGBanking regards the pilot as the start of the software solution entering international market. F@ST Abacus derives from GRG’s professional experience with thousands of ATMs, which are in different regions and of different customers. It combines consulting services, long term management services and the guidance for on-site investigation.
As added value, it applies artificial intelligence on knowledge management with self-learning tracking procedures after ATM installation. Banks are able to make better decision on ATM location with such a ”smart” analyzer.
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