Wednesday, May 13, 2020View Showroom
Against the backdrop of this world war against the new coronavirus, the ATM industry has a mission to re-position itself for future growth as soon as the pandemic peaks.
Although this war will only finally be won when vaccines are being mass produced, in the interim, many battles will be won and many breakthroughs achieved on the way to final victory: new treatments and therapies, new ways of doing business, new technologies and businesses, as well as new polices for social and economic interaction.
Let us not flinch before this enemy. The new coronavirus is formidable but by no means invincible. The virus is not an organism that can survive on its own, it can only reproduce by hooking onto host cells. And the virus is a vicious but tiny enemy – you can fit a couple of trillion of them onto a pinhead. Most importantly – the virus can be killed off on surfaces with simple sanitization.
And just this week, Maria Branyas, a 113-year-old Spanish woman and perhaps the country’s oldest person, recovered from a COVID-19 infection to provide an inspiring example of survival. She has proved that the new coronavirus is formidable but not invincible. It can, and will, be beaten.
ATMs and cash have always served a vital function during other crises and emergencies in the world and ATMIA salutes and thanks the champions of the industry who keep ATMs operational and stocked with cash during these difficult weeks of lockdown. We continue to believe that it is safe to use cash today just as it has been for centuries. We support regular hand and surface sanitization as a way to reduce the spread.
But now it’s time to fully face the future. Our industry is battle-ready for the reinvention of the ATM for the next generation. We are gearing up for the new post-pandemic reality.
Our Next Gen API App model for ATMs will include global standards to make it convenient for citizens around the world to pre-stage their ATM transactions on their mobile apps and conduct their business at terminals in under 10 seconds. Customers in the post-pandemic world are likely to embrace these fast, contactless ATM transactions.
Over 325 companies worldwide are participating in this global reinvention of the ATM.
As an inherently phygital device – part physical, part digital - ATMs are ideally positioned to adapt to the new social order that will be created once the pandemic is over.
ATMIA’s recent COVID-19 Member Survey, entitled “The Coronavirus and its Effects on the ATM Industry”, has assessed our member’s hopes for the future. 70% of respondents said they would like to participate in the Consortium for Next Gen ATMs project.
On top of asking ATMIA for guidance in setting new standards for sanitizing ATMs in a post-pandemic world, the respondents outlined their preferences for new ATM functionalities in future, including NFC-enabled ATMs, pre-staged App-based transactions, Global Money Transfers, recycling ATMs, bitcoin and crypto-currency services at ATMs, contactless ATM transactions, charity donations, transport ticketing, bill payments, video ads and video telling, card dispensing, transport tickets, biometric authentication and AI. The flexible Next Gen ATM ecosystem will enable many “plug in and play” applications to enhance functionality and generate new revenue on ATM systems.
In the war against COVID-19, many battles will be won until final victory is assured. But the biggest victory of all for our industry will be a prosperous future for global ATMs and safe, fast and convenient usage by the world’s customers.
ABOUT ATMIA - ATMIA is the leading non-profit trade association representing the entire global ATM industry. ATMIA serves more than 12,000 members from over 650 participating companies in 66 countries spanning the whole ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors and a plethora of ATM service and value-added solution providers. ATMIA provides education, advocacy and connections to help its members keep abreast of industry news and developments; increase knowledge and professionalism; improve operational efficiencies; understand and influence regulatory processes; participate in the local, regional and global ATM community; and forge new relationships to advance their businesses. Founded in 1997, ATMIA has active chapters in the United States, Canada, Europe, Latin America, Asia-Pacific, Asia, Africa, India and the Middle East focusing on the unique needs and issues of each region. For more information, please visit atmia.com. Follow us on LinkedIn, Twitter, Facebook or YouTube.