As banks strive to provide improved facilities to their customers, the use of non traditional banking assets such as ATMs and banking kiosks have been on the rise. While these assets definitely provide improved service to the customers, managing and tracking them can be a real nightmare for the banks. Now, to ease that problem, a major banking customer of Virtual Premise has expanded its relationship with the company.

           

The Virtual Premise real estate management solution includes capabilities such as owned property management, lease management, operating expense reconciliation or CAM Management, critical date management, project management, transaction management and construction management for a portfolio of thousands.

 

With this expanded relationship, the bank can now track non-traditional real estate locations, such as bank ATMs. The bank will use Virtual Premise to manage the real estate contractual information for its national network of more than 8,000 remote ATMs. The bank can also make more informed real estate decisions apart from having access to a summary of each ATM's transactional activity and demographics.

 

“ATMs are a critical component to every bank's business model because they address a business, customer service and marketing need,” said Andy Thomas, president and chief operating officer of Virtual Premise. “With consumers having access to ATMs 24 hours a day, seven days a week, banks must keep them functioning around the clock. Our customer can now successfully leverage their entire real estate portfolio.”

 

With the Virtual Premise solution, the bank can manage all lease administration information that is specific to each ATM, such as lease terms and security requirements, as well as all operational data related to installation and upgrades.

 

In October last year, the company announced immediate availability of its enhanced Portfolio Management Module, which includes customer-driven expansion of its lease administration functionality. These time- and cost-saving enhancements are available to Virtual Premise customers at no additional charge and give them access to new Express Charge Entry features, which have been designed to significantly increase employee productivity and data accuracy.

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