Diebold, Incorporated (NYSE:DBD) is entering a new partnership with First Tennessee Bank, a division of First Horizon National Corp. (NYSE:FHN)
This new relationship provides First Tennessee with Diebold's PathWay communications technology throughout its extensive network of automated teller machines (ATMs), enhancing services to the bank's ATM customers and saving money as First Tennessee expands into new markets.
"We are expanding in selected markets across the country," said Mike Marzec, senior vice president, electronic banking and strategic planning for First Tennessee. "As we expand, our goal is to lower the overall communication costs of our off-premises ATM network while enhancing services for our customers. Diebold PathWay gives us faster communication than the dial-up communications that we were using, which means we can speed up the customers' time at the ATM. Plus, PathWay gives us the ability to offer more services to our customers."
Diebold PathWay is a telecommunications integrator that enables disparate systems with different protocols to standardize communications in a TCP/IP environment. It improves the uptime of ATMs, provides opportunities to increase functionality, decreases transaction time, offers faster communication and improves operational efficiencies.
"Our PathWay offering will provide a significantly lower cost and more reliable alternative for communication to each of the bank's ATMs," said David Bucci, Diebold's senior vice president, customer solutions group. "The decision to go with PathWay will benefit First Tennessee Bank as it expands its operations, since Diebold can leverage our relationships with local telecommunication providers around the country."
PathWay has a wireless connectivity option that allows for remote and mobile deployment of ATMs without having to run costly telecommunication lines to the site or wait for installation. This will help First Tennessee expand more quickly and enable it to test locations prior to construction or acquisition of a branch.
"First Tennessee has nearly 600 Diebold ATMs in its network, and it made sense to look to Diebold for a solution," Marzec said. "PathWay made the transition easy and achieved the results we wanted. We really feel that this technology gives us a competitive edge."