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Off-Premise ATM Case Study: American Express Buys an ATM NetworkPublished by: TowerGroup Published: Aug. 1, 2000 - 8 Pages Table of ContentsHighlights Introduction The Challenges of Using Established ATM Networks American Express Rating the Strategy Conclusion AbstractThe revitalization of the ATM market due to off-premise retail deployments has not gone unnoticed by nonbank financial institutions. These organizations are breaking into the growing market space to extend their products and services through the off-premise cash dispenser network. American Express is one of those companies that has gone the next step and acquired an independent ATM network, extending its physical presence across the country. With approximately 8,700 machines, American Express now owns the third largest ATM network in the country behind Bank of America and E*Trade (which recently acquired Card Capture Services' network of 8,800 ATMs).This TowerGroup Research Note cites a new model of off-premise ATM as a delivery channel. It analyzes the business model American Express is developing for the use of the retail off-premise cash-dispenser (CD) networks, detailing the differences between the traditional banking model and the innovative strategy being forged by American Express and retail partners like 7-Eleven. The Note assesses whether American Express can convert a retail CD network into a delivery channel that can meet its goals of providing customer service, increasing brand awareness, and deepening its financial relationship with customers.
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