Bradford & Bingley is to outsource the management and maintenance of its network of cash machines to independent UK operator Moneybox Corporation.
Under the agreement, Moneybox will replace Bradford & Bingley’s 70-strong ATM network with its own machines and will provide ongoing transaction processing, maintenance and cash management services.
Atmos, a provider of outsourced transaction management services for financial services organisations and independent ATM deployers, has been contracted to provide card processing services for Bradford & Bingley.
Moneybox, which already provides outsourced ATM services to the Norwich & Peterborough and Chelsea Building Societies, will take over responsibility for Bradford & Bingley's network in June 2003, and full migration to the new Moneybox machines will be completed by September.
Paul Stanley, chief executive of Moneybox, comments: "As the economics of operating ATMs continue to change in Europe we believe that an increasing number of financial institutions could benefit from partnerships with Moneybox."
Moneybox currently operates an independent network of 2100 ATMs at convenience stores and other locations throughout the UK. The company, which is majority-owned by business services group Ambient, has established international operations in the German and Dutch markets and moved into profitability for the first time in the UK in July last year.