Read below to see the top 7 most read ATM Marketplace blogs and articles for 2024.
2024 is coming to a close and with it another chapter in the history of ATMs and banking. This year’s top stories ran the gamut of subjects, ranging from innovative trends such as cardless ATMs and gold dispensing ATMs and the continuing advancement of cash recycling.
Readers were particularly interested in a mixture of topics such as predictions for the ATM industry, along with an examination of the top eight ATM software solutions providers.
One particularly interesting story examined an ATM that is dispensing gold backed bills called GoldBacks for as little as $20. It aims to democratize access to gold.
Here are the top seven most read articles and blogs for ATM Marketplace in 2024. They are posted in reverse order. Click the titles to read more.
Traditional ATMs used to dispense cash only when a user put in their physical card and entered a PIN number. Those days are long gone, since cardless ATMs are paving the way for a more convenient banking experience by enabling Google and Apple Pay transactions.
Cardless technology is found on contactless ATMs, which allow customers to tap their phones to activate an RFID reader. The machine uses a variety of technologies to read the data, but the most common one for cardless ATMs is near-field communication.
GoldATM allow users to buy and sell gold in the form of Goldback bills instantly. These vending machines, strategically located in high-traffic areas, provide a way for users to purchase gold, for an entry price as little as $20.
Customers select the desired amount of purchase and the machine dispenses Goldback bills in exchange for cash or electronic payment.
This article examines three key trends in 2024 with ATMs: AI, video banking and cash automation.
William Budde, VP of banking strategies and solutions at Hyosung Innovue, said that while AI is still in its very early stages, it will be particularly useful for combating fraud.
“AI capabilities are a big topic in pretty much every industry, and banking is no exception. It is still early in the life cycle, but there is a noticeable increase in research and design work around the possibilities that AI can bring to the industry and is something to watch as it continues to evolve and mature in the near future. In banking, we’ll probably see some of the first impactful A.I. usage around fraud detection and prevention, as that type of function really plays to the strengths of a decision model that can be taught based on historical data,” Budde said.
Managing cash volume and replenishment for ATMs can be a complex puzzle. From logistics and security to resource allocation and escalating cash-handling expenses, the limitations of traditional approaches are becoming increasingly evident. In recent years we have seen financial institutions employ cash recycling technology to solve for some of these challenges.
While cash recycling has become an integral part of the banking ecosystem in many areas across the globe where access to cash is vital to financial inclusion efforts, in the U.S., automated cash recycling is just now emerging as a compelling solution that provides substantial benefits to financial institutions.
The ATM industry is constantly evolving to meet the changing needs of consumers. Going into this new year, several key trends are expected to shape the future of ATMs.
These include renewed popularity of bitcoin ATMs, outsourcing of ATM fleets and continued decline of surcharge transactions.
Behind every great hardware solution is an innovative software package that keeps it running smoothly and ATMs are no exception. ATM software solutions need to be reliable, innovative and easy to operate for customers. No one wants to drive up to an ATM and deal with an unreliable, clunky system that is difficult to use.
Even though cash usage is decreasing, as data from Tech.co reveals, ATMs are still necessary as customers expect them to be able to perform basic banking tasks. As a result of all of these factors, customers want more from ATMs than simple cash withdrawals. They also want deposit, bill pay, balance check, cardless or contactless access and more. In order to meet these needs, banks need robust ATM software solutions.
Thankfully, there are many ATM software vendors that can provide these services and more.
As our lives continue to become more digital, consumers are fueling the omnichannel revolution and expect a frictionless experience in every aspect of their life, including banking. To stay relevant, sustain growth, and compete, financial institutions must overcome fragmented channels and close the online/offline divide, but how?
With the rapid emergence of agile and flexible neobanks, they have been able to adapt to market and customer changes rapidly by adopting AI, machine learning and open banking to constantly innovate.
