Cash is still considered Her Majesty in Britain, and by 2012 cash machines are expected to dispense about 80 percent of cash in the country. Other payment channels have gone digital, which foreshadows the likelihood that ATMs will do the same. The time is ripe, … go on …
Rusty high street ATMs look the same as they did in the 1960s. Customers constantly complain about the systems’ hard-to-read screens, aged buttons, and PIN code security issues. UK consumers spend more time on the Internet than people anywhere else in the world, and have grown accustomed to using smartphone devices. Mobile phones enable bank customers to make payments, send money and check balances, which leaves consumers wondering: why have cash machines not updated to a similar system?
According to BBC News, there are 66,134 cash points across Britain that are heavily used by customers. If cash circulation is still very much alive and kicking, companies such as Diebold, the security and software company, believe systems need to be updated more like a smartphone.
A New Breed Of ATMs
Diebold is aiming to take on new challenges and created a new ATM that operates with standard technology akin to mobile tablets.
Diebold embedded a camera into the technology, which allows people to view what is going on behind them while making transactions. This feature aims to decrease the ATM crime that is prevalent across Europe. The video can even record transactions, and may help with catching criminals. Additionally the camera will be able to identify consumers through facial recognition.
Customers can use the screen to link accounts with their smartphone. This enables them to plan cash withdrawals ahead of time if they are away on holiday or at university.
Diebold reported the technology was still in testing stages and has not yet been released for customer use.
The new machine’s screen is also two-thirds larger than those found on traditional ATMs, and runs on a broadband connection. Broadband allows for mobility and allows customers to move the device in different positions and places. This function will be able to better serve disabled customers who often complain they are unable to use the hole-in-the-wall machines.
Cash And Dash
The BBC reported that companies are working on developing new software models that are more customized. For example, the system will take note of frequent transactions made by individual customers, and will be placed onto the home screen as a prominent function each time they visit their bank’s cash point.
Customizing systems is a way for banks to reduce waiting times at the machines. Updated management will also cut in-store lines since customers may become keener on using ATMs for services. This gives branch staff a greater opportunity to sell bank services instead of only payment processing. The BBC reported that this tactic is called “cash and dash.”
A Technological No-Brainer
Mark Hemingway, a member of the UK Payments Council, stated, “There is little doubt that the increased use of mobiles and smartphones for such things as day-to-day banking and paying bills is likely to have an impact on the use of ATMs by some people.”
As mentioned above, the BBC reported that the majority of UK’s cash will come from cash machines. Mobile phones were updated to smartphone interfaces because mobile networks kept adding more functions that cause phones to play more significant roles in our everyday activities.
Considering that consumers are expected to continue using these machines, they could at least be a little more modern.
To read the full article at BBC News click here.
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