Biometric technologies such as fingerprint scanners may be used in ATMs of the future. According to the Credit Union Times, biometric authentication is already being widely implemented across smartphone and banking applications for greater security on accounts. Fingerprint scanning is one of the safest forms of identification because fingerprints are nearly impossible to replicate, and authentication programs can immediately detect any differences. This technique may be used in ATMs of the future alongside EMV cards.
While the space age is not quite here, ATMs must adapt to current technologies such as EMV cards and security requirements. Purchasing at ATM with these technology benefits can provide banks and credit unions with machines that make customers feel safe and loyal to their chosen financial institution.
While gadgets may not have evolved into the Jetsons' flying car or Star Trek's transporters, many technologies thought impossible now exist in today's financial settings. Take touch screens in ATMs, for example. Before the 21st century, touch screen devices were expensive to produce and not widely available. Many monitors still used a larger cathode ray tube configuration, and ATMs of the late 20th century used buttons instead of touch-screen options. Today, more ATMs than ever use touch screens to cater to customer preferences. However, side button machines are still the most popular and preferred form of machine technology.
Banking technology is also advancing outside of the ATM realm. According to American Banker, modern bank patrons look for omnichannel experiences that easily overlap each other for ultimate ease of product use. For example, mobile banking apps may be tied directly to ATMs of the future. These technologies will give guests incentives to stay loyal to the brand and show they are willing to advance at the same pace as their customers.
Bank technology cannot be complete without properly outfitted ATMs. When purchasing an ATM for you branch, make sure that the machine is EMV compliant with multiple layers of backup security. Give your customers the option to pay bills on machines. As always, invest in a machine that can be consistently upgraded to reduce machine replacement costs in the future. With a proper ATM, your customers will be satisfied for years to come.
May 19, 2016