The ongoing covid pandemic has made offering customers a touch-free way of interacting with an ATM even more important and many banks are actively exploring software, which allows methods for identifying a customer other than the ubiquitous card and PIN, according to the ATM Software 2021 study by strategic research and consulting firm RBR. The study found NFC/contactless withdrawals are becoming more common, while there is growing interest in biometric authentication across the world, with deployers from China to Colombia either rolling it out, or evaluating whether to do so. The research shows enhancing the customer experience at ATMs though personalization is also a major focus for banks. “Many provide a ‘quick cash’ option, which dispenses a default amount predefined by the customer, while having access to a payee list drawn from other channels is increasingly available. Banks are also keen to use marketing solutions at their terminals which offer tailored products to individual customers, and some are upgrading their ATM software specifically to implement this, said the study.
It also reveals that banks are continuing to move away from using vendor-native software as part of a bundled procurement process when they purchase hardware. Some see this strategy as a way of cutting costs and allowing them to use solutions that support more advanced functionality at their ATMs, often in conjunction with omnichannel integration. Others believe it enables greater flexibility in terms of their hardware strategy as deployers can more easily swap between suppliers, which may be particularly attractive to those with large ATM fleets spread across vast geographies, said the study.
The study says ATM software is clearly evolving, as banks recognize the value of the technology as part of their overall omnichannel strategy. Alan Burt, who led the research, said banks are seeking solutions that can run on any hardware, allow access via a range of contactless methods, provide a unique, personalised customer experience, and keep terminals available round the clock.
