Germany’s Degussa Bank is outsourcing the management of the cash supply chain for its 220 automated teller machines to Diebold Nixdorf, part of the latter’s AllConnect ServicesSM offering.

AllConnect ServicesSM, according to the vendor, will provide “end-to-end cash management” that covers “everything from the provisioning and operation of the ATMs, to cash supply and implementation of banking requirements.”

“When we considered how to handle the operation of our ATMs in future, we analyzed various business models and found Diebold Nixdorf’s cash-as-a-service offer to be compelling,” explained Uwe Hasse, service provider manager at Degussa Bank.

“A single source for all our cash supply services means we benefit in several ways: Fewer funds will be tied up when our ATM network is renewed, we will need fewer resources to meet legal requirements and all the service providers involved will be controlled centrally. As a result, the management team can concentrate more intently on issues related to the digital transformation.”

Olaf Heyden, senior vice president, services at Diebold Nixdorf, added: “More financial institutions worldwide are recognizing the advantages of ‘as-a-service’ business models compared to managing these types of complexities in-house.

“They gain greater financial flexibility and speed, benefit from our decades of experience and high economies of scale, and can concentrate fully on their customers. We are excited to partner with Degussa to optimize and transform their ATM operations.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: