Half a century ago ATMs caused a revolution in the banking industry, eliminating the need to visit a bank branch to withdraw cash or deposit a check. Multifunctional ATMs that could perform basic financial transactions such as money transfers between accounts that previously were handled by tellers debuted in 1971. They showed that banking operations could be performed without the need for a branch or operator.
ATMs quickly became very popular and are now available everywhere in the world: in gas stations, stores, beaches and parks, in the forests of India and even in the Tibet mountains. ATMs travel on bank-buses and float on bank-boats in Asia, and circumnavigate the world in cruise ships. There is even an ATM in Antarctica that is regularly serviced and upgraded!
TODAY, ATMS ARE EQUIPPED WITH MUCH MORE SOPHISTICATED FUNCTIONALITY, SUCH AS DEPOSITS, INSTANT MONEY TRANSFERS, REGISTRATION FOR REMOTE BANKING CHANNELS and THE DISPLAY OF MARKETING AND EDUCATIONAL VIDEOS TO CUSTOMERS
SELF-SERVICE BANKING
Modern ATMs offer:
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- cash withdrawals with or without cards
- instant money transfers
- deposits
- currency exchange
- bill payments
- purchases
- balance inquiry
- account statements
Some ATMs provide a user experience close to mobile banking, some are completely contactless and do not have a pin pad or plastic card slot. And some even provide a cash-by-code service which means that the sender sets up a cash pick-up order using their smartphone, and the recipient receives cash at the nearest ATM. To use this option recipients do not need to have a bank account or card.
SECURITY MEASURES
All ATMs are manufactured with built-in cameras, GPS devices, and are incredibly difficult to break open.
Contactless ATMs have an NFC reader which enables operations to be performed using Apple or Google Pay or any other with tokenization technology — when the real card number is replaced with a digital identification account code that is newly generated on each transaction.
Tokenization technology, which was made possible by the NFC reader on contactless ATMs, enables operations to be performed using Apple, Google Pay or any other similar app, where the real card number is not exposed in the transactions.
Modern ATM network platforms ensure the operational monitoring of the status of each ATM enabling a rapid response to breakdowns or fraudulent activity. Monitoring officers will see transaction data according to the level of user access.
CONVENIENCE IS KING
Prosperous businesses put a positive client experience at the forefront. A reliable and convenient ATM network is one of the key ways by which banks interact with their clients. An uninterrupted, secure and user-friendly ATM network can greatly increase customer engagement.
The Solanteq team has developed a universal solution that ensures constant accessibility and control over the bank’s ATM network — SOLAR ATM Handler. The solution is suitable for any ATM network size, supports different machine types and offers comprehensive functionality.
SOLAR ATM HANDLER IS AN EXCEPTIONAL TOOL WHICH ENSURES THAT YOU HAVE SECURE AND CONVENIENT MANAGEMENT OF YOUR ATM NETWORK
