Tranax Technologies Announces Strong Demand in Credit Union Market for "Essential Banking" ATMs
Tranax announces strong demand for "Essential Banking" STMs among credit unions and smaller banks. Fairleigh Dickinson Federal Credit Union, GPO Federal Credit Union, Southeast Financial Credit Union, Lake Chem Federal Credit Union, New South Credit Union, Cumorah Credit Union, Forest Area Federal Credit Union, Finger Lakes Healthcare Federal Credit Union, Stevenson Federal Credit Union among first to sign up.
Toronto, ON, Canada (PRWEB) July 12, 2006
Tranax Technologies, a leading developer of ATMs and self service kiosks, today announced strong demand for its Mini-Bank family of “Essential Banking” ATMs for credit unions and smaller banks. Among the first credit unions to buy the new low cost, high quality ATMS are: Fairleigh Dickinson Federal Credit Union, GPO Federal Credit Union, Southeast Financial Credit Union, Lake Chem Federal Credit Union, New South Credit Union, Cumorah Credit Union, Forest Area Federal Credit Union, Finger Lakes Healthcare Federal Credit Union, Stevenson Federal Credit Union. To date Tranax has sold several hundred banking ATMs to many community banks and credit unions throughout the country.
“Essential banking services provide credit unions and smaller banks a level playing field with the larger banks,” says Dr. Hansup Kwon, founder and chief executive officer of Tranax. “We’re delighted with the demand that we have experienced thus far, and expect it to only increase over time.”
When TDES security upgrades became an industry requirement in 2004, Tranax foresaw an opportunity to enter the Financial Institutions market and serve the credit unions and smaller banks. While these smaller financial institutions faced the same security requirements as the larger banks, there were no ATMs available tailored for their specific needs. Instead, the smaller banks could only purchase expensive machines loaded with services they could not use or afford, or refurbished machines which came with their own challenges.”
Tranax has put in place a very strong support program for the smaller bank, even before a product is shipped. The Tranax Banking Business Partners (BBPs) selling these products are providing service that meets a financial institution’s servicing requirements. All Tranax BBPs are factory trained by Tranax and are required to stock a full compliment of spare parts.
“We program, configure each machine to the individual requirements of the end user, and then set up, test and stage it before we ship. Our shipping response time is in days, not the weeks or months typical of larger manufacturers,” said Dr. Kwon.
Tranax Technologies
Tranax leads the ATM and self-service industry in the design, development, manufacture, and sale of self-service technology to the retail, banking, hospitality, entertainment, and gaming industries. Founded in 1986 by Dr. Hansup Kwon, the Fremont-based company has sold 70,000 ATMs across North America.
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