HYOSUNG ANNOUNCES EXCITING NEW DISTRIBUTION MODEL
Leading ATM maker names three new Preferred Partners as part of change
IRVING, Texas, July 1, 2020 – Hyosung America, the largest provider of ATMs in the United States, today is announcing an exciting new distribution model to better serve Regional and Community Financial Institutions. Under this strategy, Hyosung will establish three distinct channels to market.
The three channels are Hyosung Preferred Partners, Authorized Hyosung Resellers and Strategic Partners. Hyosung Preferred Partners will be the only full-service partners authorized to resell Hyosung products to Financial Institutions in specific geographic areas of responsibility. Authorized Hyosung Resellers are full-service dealers authorized to resell Hyosung products on a non-exclusive basis in assigned geographic markets. Strategic Partners will be industry-specific partners authorized to resell Hyosung’s advanced technology products as part of integrated solutions on a nationwide basis.
“We believe these changes will drive clear accountability and enable our partners to make the investments required to ensure industry-leading support in their local markets,” said Hee-Eun Ahn, Hyosung America’s CEO.
Hyosung has selected three dealers to be the first to participate in its Preferred Partner program:
- Bancsource, headquartered in Springfield, Missouri, will assume Preferred Partner responsibilities for Alabama, Mississippi and Missouri.
- BranchServ, headquartered in Bethel, Connecticut, will take on Preferred Partner responsibilities for Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.
- NuSource Financial, headquartered in Eden Prairie, Minnesota, will handle Preferred Partner responsibilities for Kansas, Minnesota and Wisconsin
“We selected this first group of three companies for our Preferred Partner program because of their high performance and dedication to their customers,” Ahn said. “We’re extremely proud to have them as part of our Hyosung dealer network and are fully committed to our mutual and profitable growth.”
“Our strategic relationship with Hyosung allows us to offer our customers innovative industry leading core-connected technology,” said Jeff Chick, CEO of Bancsource. “Together we are helping Regional Banks and Credit Unions transform the way they do business with their customers and members and provide safe banking options in this post-COVID environment.”
“BranchServ has been partnering with Hyosung for more than five years, and together we’ve achieved outstanding results implementing their industry-leading bank automation portfolio throughout our footprint,” says Tom Brennan, CEO of BranchServ. “Our customer success speaks for itself, and we are pleased to be an exclusive partner with Hyosung.”
“What we have found especially gratifying with our partnership with Hyosung is their willingness to collaborate,” said Jon Erpelding, president and CEO of NuSource Financial. “Not only do they listen, but they deliver on the feedback we are providing from our own bank and credit union partners. Our customers are excited to share their ideas and visions about how to provide the best customer experience possible. We are excited that our Hyosung partnership allows us to deliver that unique experience.”
Hyosung maintains a robust dealer network to serve the remaining 37 states and plans to increase the number of Preferred Partners in additional geographic areas over the next 3-5 years.
About Hyosung America
Hyosung America is the North American subsidiary of South Korea-based Hyosung, Inc., a global leader providing ATMs to the retail off-premises and financial institution markets. Since entering the North American market in 1998, Hyosung has become the largest provider of ATMs in the United States. Hyosung America is headquartered in Irving, Texas, and provides research and development support in its Global Software Center in Dayton, Ohio.
Bancsource is an innovative industry leader of financial technology sales and service, specializing in FI partnerships that drive customer/member satisfaction. Bancsource has been a proud partner with Hyosung for over 10 years and this strong partnership allows Bancsource to provide cutting-edge core-connected technology to our clients in the forefront of regional banking.
BranchServ, founded in 1999, is a leading security/automation equipment and service provider. Focused on helping financial institutions “Put Their Best Branch Forward,” BranchServ offers self-service and assisted self-service automation technologies that allow banks and credit unions to connect with customers in a whole new way. Branch design becomes more efficient, transactional labor requirements are better managed, and institutions are able to focus on relationships and cross-selling opportunities by adopting the future of banking with BranchServ. Our full-line portfolio includes cash recyclers, ATMs and advanced terminals from Hyosung. Furthermore, products are complemented by a service organization with unsurpassed site metrics and a reputation for excellence, supporting our service to bank and credit union branches nationwide.
NuSource pairs cutting edge technology with world-class service for financial institutions across the United States. We strategize and implement innovative Branch Transformation, Security and Service solutions. Through partnerships with companies such as highly regarded Hyosung, NuSource is committed to tailoring strategies to the particular needs of financial institutions. Our clients consistently reach improved operational performance and enhanced customer experience with speed and convenience. Our mission is to consistently deliver value-added consultative solutions and quality service experiences based on Integrity, Professionalism, and Teamwork.