CashTech News Round-Up

Cash Recycling Machines Mushroom in Bangladesh

The Dhaka Tribune reports that between March and the end of November 2020, the number of Cash Recycling Machines (CRMs) increased from 266 to 684 in an attempt to make branches less crowded and to lower costs since less cash loading and replenishment of ATMs is needed, along with reduced cash movements, sorting and handling.

An advantage for the public is that deposits are credited to their accounts in real-time.

Cardless Cash Service Comes in Oman

Customers can now withdraw cash from National Bank of Oman (NBO) ATMs without using their bank card at the ATM. Instead, customers use their NBO mobile app to enter the amount of cash required and they get a one-time number passcode sent to them by SMS for use at the ATM.

Intel Develops Facial Recognition for ATMs

Intel has developed a facial recognition system to allow people to withdraw money from ATMs, smart safes, access control points, point of sale, kiosks etc.

Known as ‘RealSense’, the solution uses an active depth sensor with a specialised neural network to protect it against fraud. Criminals try to fool the technology using photographs, videos or masks. It works in various lighting conditions and for people of every height and complexion. And, continues to recognise people as they change over time, including facial hair and wearing glasses.

Designed at Intel’s Haifa development centre, RealSense has to deliver secure, accurate and ‘user-aware’ facial authentication with a one-in-a-million acceptance rate.

Russia Allows Biometric Data in Banking

Russia has passed legislation to allow commercial companies to collect biometric data. Known as the Unified Biometric System (UBS), banks with basic and/or universal licences are required to collect customer biometric data. It is expected that retailers will be able to use UBS to allow customers to make cashless in-store payments using biometric authentication. The central bank is responsible for the banks’ collection of biometrics.

Biometric ATMs to be Used in Argentina

In Argentina, Octagon, a company owned by Odyssey Group, aims to deploy 500 biometric enable ATMs in the first half of 2021. The underlying technology is reported to be from Ex-Cle. Although it is capable of iris, face and voice recognition, it will capture and work with fingerprint recognition.

Assisted Self-Service Terminals

China has led the way with the development of Assisted Self-Service Terminals (ASSTs) in bank branches. Although ASSTs carry out most of the functions of ATMs, they do more because customers can be supported by bank staff, for example, opening accounts. Initially China made extensive use of video support but, from 2017, banks have been required to carry out ID verification in person.

In the US, the second largest market for ASSTs, video support remains popular, particularly for drive-through banking and to support bank services outside of core bank hours. In the US ASSTs allow people to choose the denominations they receive when withdrawing cash. In Italy, in-person assistance is also the norm.

An RBR survey, ‘Branch Transformation 2021’, reports that there are 340,000 ASSTs worldwide.

Importance of Cash Management Software

Another RBR survey, ‘Global ATM Market and Forecasts to 2025’, reports on the importance of cash management software.

At the end of 2019, the vast majority of ATMs were monitored remotely, with a high proportion also covered by cash management software.

The research shows that two thirds of ATMs are covered by such software, enabling operators to proactively plan when they will need refilling. Both banks and IADs ATM most commonly use proprietary cash management solutions. The share of proprietary cash management software is highest in Spain at 89%, while in Sweden it is just 19% as all but one deployer use the same third-party solution.

ATMIA Rewards Cash Promotion

The ATM Industry Association (ATMIA) has added a new category for Cash Promotion to its annual marketing awards competition.

The category is for advertising campaigns that promote cash and its use, whether through digital, content or video content.

The contest, which takes place at the ATMIA US conference, 28-30 April 2021, also has categories for Digital, Content and Video.