Personal technology advancements have shaped the expectations of today’s consumer. Whenever they interact with technology, they expect that same streamlined, touchscreen, intuitive experience they get from using their personal smartphone and tablet devices.
So, when it comes to visiting the ATM, consumers expect them to offer the same connected experience they see in other industries. Traditionally, the ATM – like many banking channels – has been siloed and is seen to be out of step with current banking IT evolutions and digital investment. Consequently, it can lack the speed, agility and flexibility needed in today’s digital-first world.
But it doesn’t have to. Industry body, the ATMIA launched its NextGen Architecture initiative which aimed to develop a common blueprint for ATM architecture to ensure the ATM channel remained an integral part as financial institutions went through digital transformation.
This programme brought together the industry - including 335 deployers, vendors and suppliers from six continents – and NCR has played a key role – to develop a 10-point plan for a common blueprint for next generation ATM architecture. It aims to reduce the total cost of ownership of the ATM channel, simplify operational management and align the channel to modern digital banking technologies.
Combining governance, standards, security and customer interface, the ATMIA NextGen Architecture recommends the software stack on the ATM be simplified and use modern web technologies that let deployers manage consumer experiences on a server and publish them instead of distributing to the ATMs—this simplifies operations and reduces the frequency of ATM software updates. And the remaining updates will be simple, too, as there’s less software installed on the ATM itself.
NextGen ATMs need to:
- Deliver more security
- Offer greater flexibility
- Provide a better customer experience
- Replace bank functions as “banks in a box”
- Deliver more services than ever before
- Support cardless access to cash via mobile apps
It’s what consumers are looking for: a consistent experience across every interaction point when they bank. They want to be able to start a transaction on their mobile device, continue it at the ATM and have a teller be able to pick it up if they need assistance. Indeed, they want to be able to handle all their financial requirements in the channel of their choice.
Delivering that choice, cross-channel consistency and efficiency requires this next generation software. It’s how banks can extend digital banking services at the ATM by enabling easy integration to different services either from the financial institution itself or Fintechs and third parties via open banking or direct connection to the core banking system.
But most important, the development of next generation software solutions will radically change the impact of the self-service channel by enabling it to be the access point to digital.
It’s why NCR launched its new next generation ATM software – Activate Enterprise NextGen. This end-to-end ATM software simplifies the delivery of expanded digital experiences out of the box, helping financial institutions move beyond expensive, cumbersome and siloed architectures—and toward an agile, connected future.