CIBC’s electronic banking division, Amicus Financial announced today that it has been awarded the opportunity to solicit all of the Credit Card Center’s former merchant customers in an effort to assume management of nearly 15,000 ATM terminals in the U.S. Amicus currently manages more than 8,000 ATMs in the U.S. and Canada.
On August 24, a federal bankruptcy court judge in Philadelphia awarded XtraCash ATM, an operating arm of Amicus Financial, the exclusive rights to petition all of CCC’s former merchant customers with an incentive program in an effort to convert nearly 15,000 already-installed ATMs.
“Amicus Financial’s long-term ATM strategy is to create North America’s largest and most comprehensive bank machine network,” said Eugene DeSilva, chief officer of Amicus Financial’s Remote Banking Division. “We want to ensure that our ATMs provide fee-free access to funds for Amicus Financial banking customers and reliable, convenient access to cash for the public.”
The division manages three distinct businesses: an owned ATM network, which includes private label bank machines; a managed ATM network where Amicus Financial provides other ATM network owners with servicing and maintenance; and an independent sales operator network, managed by XtraCash ATM, which provides service and back office processing to individual ATM operators such as convenience stores and gas stations. Bank machines formerly managed by CCC would fall under this last category.
CIBC tripples its U.S. ATM presence
Electronic banking arm to gain 15,000 new terminals
- By: IE Staff
- October 9, 2001 October 9, 2001
- 09:20