Installation, maintenance and equipment repair for financial technology systems and equipment are referred to as "field services" in the fintech sector. The duties performed as part of these services can range widely, from setting up point-of-sale systems in retail establishments to maintaining hardware and software in financial institutions to fixing ATMs in banking settings.
Field service technicians are skilled specialists with the tools and training needed to work with a variety of systems and pieces of equipment.
In the fintech sector, field service technicians may complete duties like hardware set-up, software configuration, equipment maintenance and system upkeep. They are frequently expected to work in a range of settings, including offices, retail stores and banking institutions.
As a result, they need to be able to adapt to various contexts and possess the skills needed to successfully and swiftly troubleshoot and fix issues.
Field services are essential to the smooth and effective operation of financial technology systems and equipment in the fintech space. They contribute to uptime maximisation, downtime minimisation and ensuring that consumers can get the services they require. Businesses outsourcing their field services, such as retailers, micro-financiers, hospitality providers, among others, may get new customers, keep hold of their existing customers and stay one step ahead of the competition in a market that is continually changing by offering dependable and effective field services.
We spoke to Brendan Van der Mescht, Manager: Supply Chain at Altron FinTech, about the importance and development of field services in the fintech space and here is what he had to say.
How did Altron FinTech start outsourcing field services?
The Altron FinTech Field Services team was approached a few years ago by one of the big banks to perform their field services for them; this posed a new challenge for us as we had only previously performed field services for our merchants and had not branched out to perform additional field services for anyone else. We currently provide field services for a number of customers and we frequently receive requests to provide these services for additional customers, some of whom are Altron FinTech’s competitors. We branched out even further around a year ago when DataCard contacted us about providing field services for one of their customers and this presented yet another challenge because they wanted us to perform maintenance and replacement work on Entrust card printers, which are very different from payment terminals.
Not too long ago, we only had teams in Gauteng, Durban, Bloemfontein, PE and Cape Town, with most of these areas only having one technician to service merchants. We now have two to three technicians in these areas and have also placed technicians in Pretoria, Nelspruit and East London. Over the past couple of years, we have almost doubled our field services employees so that we can meet the demand.
What new developments have been the most noteworthy?
As mentioned, to maintain and swap out the Entrust printers, the team had to adapt and pick up new skills. In addition, technology is constantly evolving so the team must keep up to date with the latest technology we offer. The Delter installations were recently added to the Altron FinTech Field Services team. Delter installations are more challenging and in-depth, so if done incorrectly, it could result in a financial loss for merchants and Altron FinTech. Nevertheless, this has allowed the NuPay and Delter teams to work efficiently in doing installations, which benefits our customers. Eighty percent of the team have received training and are now proficient in Delter solutions installations.
How has field support changed/adapted?
The field services team is constantly required to adjust to technological advancements in both equipment and industry. Although switching from terminals to card printers and now to Delter installations has been a learning curve, the team is always eager to take on new challenges and broaden their knowledge and skills. Many of our technicians have been able to move on to further their careers in other roles within Altron FinTech, thanks to the skills they acquired as technicians, and they are succeeding in their new roles.
What are the benefits of field support (and which industries would benefit the most)?
Businesses can accomplish more in less time by outsourcing their field support, and they can save money, both of which have a positive impact on their bottom line. The field services team is enthusiastic about providing excellent customer service, so by outsourcing your field services to Altron FinTech Field Services, businesses can concentrate on core business operations, cost control, have greater efficiency and a competitive advantage, which are all additional advantages of outsourcing.
The microlending, banking and retail sectors will benefit the most from Altron FinTech Field Services.
Why is outsourcing field support for a company a good idea?
- Cost savings: Often, it is less expensive to outsource field services than to hire and educate a group of in-house technicians. A partner in outsourcing may have developed procedures and economies of scale that enable them to deliver services more effectively and for less money.
- Specialist expertise: A company can access personnel with the knowledge and experience required to successfully manage and repair its equipment and facilities by outsourcing field services to a specialist supplier.
- Focus on core competencies: By outsourcing field services, a business can concentrate on its strategic goals and core competencies while leaving the upkeep and repair of its facilities and equipment in the hands of industry professionals.
- Flexibility: By outsourcing field services, businesses can scale their offerings up or down in response to shifting business demands.
- Improved service levels: Companies can ensure that their facilities and equipment are always in good working order by outsourcing field services to a provider with a track record of providing high-quality service. This can increase productivity, decrease downtime and improve customer satisfaction.
Where does warehousing and maintenance fit in?
We keep a variety of terminals and tools in stock for our field service customers, which enables us to complete service calls more efficiently. Service requests are completed in accordance with our agreed on SLAs. Additionally, we conduct weekly inventories of all equipment and keep records of all equipment that is in stock on our in-house CRM system.
By performing regular software updates, swapping out damaged cables and cleaning equipment, we constantly maintain terminals and equipment. We also include additional customer training in our maintenance category.
Every year, a new innovation disrupts the way that the fintech industry operates, but there is always room to make sure that customer satisfaction and product innovation are at the forefront. Because of this, Altron FinTech Field Services continues to operate at a level that keeps us and our customers up to date with the pace of developments.
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