Elan Financial Services Introduces Turnkey ATM Solution to Help Financial Institutions Meet Compliance Deadlines and Enhance ATMs

Business Wire, Sept 28, 2004

ST. PAUL, Minn. -- Elan Financial Services has enhanced its ATM services to make it easier for financial institution clients to keep their ATMs up-to-date and in compliance with federal and network regulations. The enhancement allows financial institutions to choose one of two options - a turnkey outsourcing plan in which Elan owns and maintains the ATM or a modified outsourcing plan in which the financial institution owns the ATM and contracts with Elan for certain services.

This outsourcing program reduces the burden that many small and mid-sized financial institutions face in replacing or upgrading their ATMs to comply with certain mandates such as Triple DES PIN encryption, Unique Encryption Key, and the Americans with Disabilities Act, while providing additional features at the ATM. Additionally, use of the latest technology opens the door for future enhancements such as check imaging support, interactive marketing and personalization.

In addition to replacing or upgrading the ATMs, Elan will provide transaction processing services, as well as first and second line maintenance, ATM monitoring, cash and deposit management and a range of other functions that complete a full service support package.

"Our ATM outsourcing program puts financial institutions in the position to optimize their investment and truly exceed client expectations while they comply with challenging new regulations," said Jan Estep, executive vice president and business manager for Elan. "This comprehensive program can provide the latest in technology while reducing operating costs and improving performance. It then allows financial institutions to focus on their core business and customer relationships while Elan provides the expertise and technology to prepare ATMs for the future."

The Elan ATM Outsourcing program was developed in response to recent surveys that indicate many financial institutions have a growing preference to outsource all or a portion of their ATM program. The complexity of operations, looming deadlines for compliance with numerous regulations and the increased level of investment are factors contributing to this consideration. This turnkey ATM program from Elan offers the same support and services, such as complete client support and card management, web-based reporting and administration and the unique Service Guarantee that are provided with all Elan transaction management programs.

Elan Financial Services, as part of U.S. Bancorp (NYSE:USB), supports more than 7,800 ATMs, 15 million ATM/POS cards, and 2 million credit cardholders with a complete range of products and services including credit card issuing, ATM, debit card, and merchant processing. Elan offers a full range of ATM services to financial institutions and independent sales organizations including authorization processing, terminal driving and switching services. These are conducted through a wide array of network options with all the necessary card management and support functions creating an easy to manage card program for financial institutions. Elan also provides membership in the Fastbank ATM network, which includes deposit-sharing ATM locations Fastbank Free, the surcharge-free option available in 24 states.

Likewise, Elan bolsters debit programs for financial institutions by offering their cardholders a payment option that is accepted worldwide, convenient, more flexible than checks and safer than carrying cash. For the financial institution, that means increased revenues, decreased expenses and reliable delivery. Elan provides full-service support and management tools, which are secured with a unique Service Guarantee, to more than 2,500 financial institutions. For more information call 1-800-343-7064 or visit elanfinancialservices.com.