Next Generation ATM – Cash Dispensers
Syed Farhan Ashraf
Department Head | Digital Banking & Phygital Enthusiast | Transforming the Future of Banking
In recently past, top two ATM brands introduced new ATMs – Mono-function Cash Dispenser; both have optimized their ATM components and introduced some sleek function / component which give us good idea what is coming next in future. Although this type of transformation will take time depends on market, but will ensure significantly reduce banks overall operation effect, maintenance cost as well. Both have reduced three main components (JP, RP & EPP) from their ATMs and one has reduced CR as well.
1. Journal Printer – Paper (JP)
Both brand has remove JR from their new proposed ATMs, as banks are in trend to move towards Electronic Journaling for ATM activity record and in Pakistan we have similar trend where at least 4 banks (best of my knowledge) are on Electronic Journaling and soon this will be industry benchmark, ultimately reducing cost, bringing operational efficiency & environment friendly approach for bank ATM Network.
2. Receipt Printer (RP)
Another component that has been removed from latest terminals is Receipt Printer, both has introduced e-Receipt options (SMS), which is in practice by banks to send SMS of ATM transaction performed by customers (charged / free of cost).
3. Encrypted PIN Pad (EPP)
EPP is used in ATMs to send customer transaction PIN (encrypted) to HSM (Hardware Security Module)/PIN verifier (in simple term), where they have remove PIN pad from ATM and add PIN enter function in encrypted & multidimensional touch screen which also served other transaction functions as well and since contact less transaction are now a day in trend we will soon see decline in PIN enter trend on ATMs.
4. Card Reader (CR)
One brand has approached that CR is replaced by NFC or QR and in some extend I agreed with them, but it’s too early to say as there are other factor also involved, as ATM is also source of facilitating and generating revenue for off-us customers (local / international).
Introducing new technology will provide edge to bank on other, with more options for customers to perform transaction and save ATM operational cost.
Security Manager ,National projects and constructions Abudhabi, Etihad Rail station links
8 å¹´Its really promising that they have removed JR RP and gong electronic, this would have done a decade ago, in future ATM usage will be reduced considerably as our society is going electronic hence no need of physical cash.
Retail Sales Manager at Self Employed
8 å¹´ATM operational costs from the bank's perspective are not going down anytime soon. With all due respect, that's a wrong assessment. ATM operational cost has two elements. 1) cost of deployment which includes the site rentals for offsite locations, cost of Cash replenishment, Utilities and branding. 2) the cost of after-sale maintenance which continues to rise making it the largest cost component of ATM operations. This includes cost of both hardware and software upgrades and remedies. In essence. Banks will never be able to control costs and turn their ATM networks into profitable growth engines using conventional ATM ownership models. The profitability goals can be achieved or the costs of operations can only be lowered by adopting third party ownership model, which is tried and tested.
Unit Head Integration and Business Technology | Certified ScrumMaster? | Digital Banking | Digital Transformation | Project Management | Cards & Payment Systems | Solution Architect | Open Banking | AWS | Cloud Computing
8 å¹´Good Work (y)
Senior Network Engineer at nbn? Australia
8 å¹´Great work. Good on you.