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When it comes to running a financial institution, having the right tools and equipment in place to empower your employees, serve your customers, and keep your operations running smoothly is key to maintaining a competitive edge.
However, when it comes to servicing your ATMs, TCRs, and other branch equipment, it can seem that there are limited or restricted options beyond the original equipment manufacturers (OEMs) for you to find the best service provider to meet your needs.
Recognizing the many problems that this creates for consumers and businesses of all sizes, the Federal Trade Commission (FTC) issued a press release on July 21, 2021, enforcing what is known as the Right to Repair.
So what is the Right to Repair, and what can it mean for your financial institution?
What Is the Right to Repair?
As part of providing their equipment to financial institutions, some OEMs have made it difficult for customers to enable the most efficient and effective way to service their equipment, whether in-house and/or with an independent service provider.
Although this can be good for the OEM’s, it creates restrictions for financial institutions looking to efficiently and effectively manage their equipment. This can be especially true for ATMs and TCRs, which are an increasingly important way that many financial institutions interact with their customers.
However, the FTC press release reminds financial institutions they have what is known as the Right to Repair. In practice, this means they have flexibility in selecting who services their equipment instead of being limited or restricted by the OEM.
How Can You Exercise Your Right to Repair?
Although the FTC is reinvigorating its educational campaign on the benefits businesses and consumers can leverage, financial institutions still need to know their rights.
In short, your organization has the right to access non-proprietary, after-sales support enablements including:
- Service information: Product manuals, training resources, technical support documentation, software updates, and schematics
- Diagnostic tools: Tools you and your independent service provider need, including authentication and secure pairing tools
- Parts: Parts required to service and support equipment
- Repair and maintenance: Repair kits, upgrades, and modifications for devices and equipment
If your financial institution is not receiving an adequate level of service, responsiveness, or support from your current provider or in-house effort, it is important to understand you have other options.
This includes exercising your rights to request the information and access needed to service your equipment and protect your investment so your team can focus on delivering exceptional customer service.
Burroughs Is Ready to Be Your Trusted full LIfecycle Service Provider
If your financial institution is looking for a better way to service and proactively maintain its ATMs and branch equipment, Burroughs has been in the business of providing OEM-agnostic services for more than 130 years.
That means Burroughs already has the coast-to-coast infrastructure to provide the hardware, field service, repairs, and technology-driven remote and technical support your financial institution needs to maintain the ATM and branch equipment uptime your customers expect.
When you choose to partner with Burroughs, your business will be supported by more than 500 highly skilled and certified service technicians, running 4-hour SLAs 24/7/365 backed by two U.S.-based technical teams specialized in level 2 and level 3 support. You will also have peace of mind knowing we have remote monitoring capabilities, 100+ forward stocking locations, and experience managing over 150,000 cash automation devices, including 85,000 ATMs, ITMs, and teller cash recyclers from numerous industry-leading OEMs.
So instead of a web of different customer service options, your team can contact one provider when they need support, no matter the make of the device or where or when they need assistance.
Exercise Your Right to Repair
You know what your customers need and what is best for your business better than anyone else.
So when it comes to selecting the right service partner for your ATMs and branch equipment, you should be able to pick the organization with the experience, agility, and quality needed to meet your customers’ needs and protect your investments.
If you are ready to learn more about your options and how the Burroughs team can provide the consultative guidance your financial institution needs to meet its full potential, then contact us now.
