While many developed countries are rapidly embracing digital payments, to the extent that talk of a cashless society is now being seriously mooted in some countries, for emerging economies, cash is still very much king.
When banks are rolling out ATM solutions, it's vitally important they consider the needs of all their customers, especially those who may have accessibility issues such as visual impairments that may make it difficult to complete interactions in the same way as most people.
One of the most significant changes in the US payments industry over recent years has been the fraud liability shift for EMV-enabled cards in October 2015. Since that date, responsibility for card fraud in cases where the card has an EMV chip but the point-of-sale terminal is not equipped to accept EMV transactions has fallen on the merchant, rather than the card issuer.
We are in the midst of some exciting and eye-opening changes in the retail banking industry. Concepts like automation, machine learning and big data analytics all have the potential to make huge differences to how banks operate, possibly opening up new efficiencies, cost reductions and revenue opportunities.