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Keeping The AI On ATMs

PYMNTS

The ATM is a stalwart of the banking experience — always there, always on, always ready to dispense cash. Like any electro-mechanical device, an ATM can break down, go dark, maybe even fail permanently — as the fleet of machines out in the field, so to speak, gets older, the upkeep becomes ever more pressing.

ATM
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What ATMs And Open Source Have To Do With Payments Innovation

PYMNTS

As Red Hat ’s Global Director of Financial Services Richard Feldmann explained, the heart of the embrace and appeal of open source technology is the need for speed, and to evolve use cases for end users (consumers and enterprises) in a more robust and secure fashion. Making Old ATMs New(ish).

ATM
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European Central Bank sets out business model for digital euro

NFCW

NFC provides a highly convenient end-user experience which consumers in the euro area are already familiar with. “The ECB has been looking at the modalities of accessing the hardware component (“secure element”) in mobile devices and smart cards to allow settlement of transactions in end users’ devices.

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The Secret World Of APIs

PYMNTS

What’s often missing is the “why,” the myriad use cases for which APIs can add value to the business, and the state of readiness of the end-user to use APIs effectively. Problem number two comes down to whether the bank’s end users themselves can integrate with an API. Two To Tango.

API
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Boloro Takes An ATM Approach To Consumer IDV

PYMNTS

The user’s specific device must also be present, and the final, knowledge-based layer must be provided – so even if a fraudster managed to get his hands on the right device, he would still be barred from doing any damage without the user’s PIN. End User Experience. Kilb described this method as an “ATM approach.”

ATM
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Thunes Unveils QR Code Payments Solution Connecting Global Financial Apps to China’s Cashless Economy

Fintech Finance

According to the Payment System Report, published by the People’s Bank of China, there has been a 25% reduction in ATMs over the past six years, highlighting the accelerating shift toward a cashless economy. Forbes further reports that mobile payments now account for over 85% of all transactions in China.

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Solving for the Interoperability Challenge

Faster Payments Council

But there is light at the end of the tunnel. We solved the ATM challenge. Today, regardless of which ATM is used and where a person banks, a person can pull money from or deposit funds into an account from any ATM. We, as an industry, have done this before.