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Friday, October 28, 2022

NAC strides into second decade of ATM progress

The National ATM Council, which represents independent retail ATM providers, suppliers, owners and deployers, is celebrating continued momentum after convening its well-attended 10th anniversary conference. The 501(C) (6) not-for-profit trade association is moving forward on several strategic initiatives aimed at furthering the rights and opportunities of stakeholders in the ATM space.

Bruce Renard, executive director of NAC, thanked NAC2022 sponsors, exhibitors, speakers and attendees for making the conference a success. Held Sept. 13 to 15, 2022, at Hollywood Florida's Hard Rock Hotel and Casino, the event's key supporters included platinum sponsor Hyosung; diamond sponsors Cord Financial Services, OptConnect, NextATM, Digital Network Solutions, Kahuna ATM Solutions, Columbus Data & Services and Switch Commerce; and gold sponsor Genmega, Renard noted.

"By all indications from the feedback we've received, NAC2022 was a great success," Renard said. "Our numbers were strong and in line with pre-pandemic levels of attendance and vendor participation levels and everyone spoke favorably of the venue and educational content, which was extensive, even for us."

Policymaker support

Renard recalled standout NAC2022 presentations by Rep. John Rose, R-Tenn., and Federal Reserve Bank of Atlanta representatives Dave Lott and Dr. Scarlett Heinbuch regarding NAC's ongoing efforts to promote cash usage and preserve cash as a payment option.

"In his keynote address, Congressman Rose used his allotted time to pointedly question the nation's largest banks on why they are categorically denying banking services to Independent ATM Operators throughout the United States," Renard said, commending Rose for his courage in addressing the issue at a Financial Services Committee hearing, which can be viewed on YouTube at www.youtube.com/watch?v=3GQqJ-jOJt8.

Renard also noted leading financial institutions participated in the recent hearing on Capitol Hill and agreed to re-evaluate policies that unfairly preclude ATM owners and operators from maintaining bank accounts. Immediate review is essential, he noted, given recent updates to the FFEIC's BSA/AML Examination Manual and subsequent guidance from FinCEN and FFEIC agencies regarding the importance of fair banking practices for the retail ATM community.

Praising Rose as a leading advocate for cash and independent ATMs, Renard encouraged ATM industry stakeholders to support his re-election in upcoming midterm elections to ensure he remains a strong voice on these issues.

Driving financial inclusion

Looking ahead to the next decade, Renard affirmed he is optimistic that "ATM Nation" will continue to drive financial inclusion. "Our member locations range from rural gas stations to city sidewalks, and everywhere else the American public and tourists depend upon and desire convenient access to good 'ole American greenbacks," he said. "Our members service inner city communities, some of America's most rural areas, and heavily populated, affluent locations."

Renard went on to say NAC members serve every type of retail and public venue, from bodega owners to leading Super Bowl brands. In times of natural disaster, NAC member technicians roll out trucks to ensure terminals are working and essential cash is available to those in need, while making ATMs secure and compliant with legal and ethical standards, he noted. ‚Äč NAC members play a vital role in supporting the U.S. economy, Renard stated, adding that the organization respects their efforts to provide widespread access to cash, is honored to represent ATM Nation, and will continue to protect and promote NAC members and those they serve. end of article

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