XFS4IOT brings big advantages around flexibility and a far more lightweight framework. The XFS Manager goes away and is replaced with WebSocket connections. This enables more of the ATM application to reside in the cloud. It also empowers more modern deployments of ATMs such as shared devices, sidecars, and the addition of modules that expand the ATM beyond traditional financial transactions and offer a much wider Self-Service menu of facilities to consumers. Some of these we are starting to see already; recycling, coin and card issuance, but also ticket and voucher dispensing, bill payment modules and even modules we haven’t envisioned yet. Imagine an ATM with multiple devices exposed externally to the cloud. Coin, card issuance, even card readers could be standalone or shared. Sidecars and shared devices may no longer need a Windows OS to comply to the CEN XFS standard.
The shift to a cloud centric architecture fits well with the ATMIA (ATM Industry Association) Blueprint for Next Generation ATMs offering FIs the choice of running applications either internal to the ATM or in the cloud which could be lower cost and require lighter infrastructure. It also offers the capability of having devices and modules from multiple vendors all integrated and managed from the cloud. This offers a more flexible lightweight software stack.
Therefore, while CEN XFS4IOT is concerned with financial physical devices, this far-reaching re-design is complimentary to other financial standards with a view to the future such as ISO 20022. The Financial Payment standard ISO20022 has a wider scope and can apply to ATMs, digital, online, mobile, and payments. That standard spans all channels of a FI whereas XFS will focus on ATMs, EFTPOS and branches - essentially areas with physical financial devices.
That being said, these two new standards do complement each other in terms of offering a more cloud centric approach with a lighter framework offering more flexible, agile implementations.
The XFS committee have learned a lot over the past 20 years, and many of these lessons and improvements have also been incorporated into the new standard and built into the architecture including enhanced security delivered in part with the adoption of WebSockets.
Most important, XFS4IOT has arrived and offers a strategy for choice. It should not be viewed as an ‘instant’ move away from Windows but does facilitate more flexible modalities of ATMs using sidecars and shared devices and does empower the ATM network to be more cloud centric, which all in all presents an exciting time ahead for self-service banking.