Articles

Taking control of the network with a single software environment

Every time a new way of paying for something has arrived – credit and debit cards, internet payments, contactless cards, mobile phone payments – the imminent death of cash is announced. It sounds a reasonable prediction to make given the convenience of these new methods.

If so, here’s an odd thing. Cash remains stubbornly well used in a mixed economy of competing payment methods. In 2011 cash made up 56% of all UK payments equating to £262bn - that's big business in anyone’s money.

People like cash – it’s easy to use, it is fast, and its value is clear and accepted by everybody. Banks, however, don’t like cash because it is expensive to handle and move around.

Technologies are available to further reduce the cost to banks of dispensing cash and banks have an incentive to make cash compete because the heaviest users of cash are young adults - their future customers.

Why the war on cash is doomed to fail

Global banks are beginning to run a single software solution not only across different ATMs, but also across different jurisdictions and countries. Aravinda Korala talks to RBR about:

How ATMs improve customer service, reduce costs for the bank and increase efficiency, and Banks want to change the software on a regular basis and have uniform behaviour across their networks

The spread of the single ATM software environment around the world

Every Bank CEO knows that bank branches are an expensive way of servicing its customers. However, banks have been reluctant to move customers away from the branch to alternative channels such as the ATM and risk losing the all-important customer “touch” opportunity. The increasing sophistication of the ATM though now enables the Bank CEO to have it both ways – reduce cost and provide a personalized service at the same time. How is that possible?

What every Bank CEO should know about their ATM network

Nikkin, The Japan Financial News, interviews KAL CEO on the:

The merits of using ATM software that is compatible with multiple vendors
The current trends in the international ATM markets
The growing need for Banks to upgrade systems for IC-chip enabled cards