ATM Trends in 2024

ATM Marketplace has identified three key areas for innovation for ATMs in 2024.

Use of AI: The first of these is the use of Artificial Intelligence (AI) to combat fraud detection and prevention in particular. It also has potential in areas such as improving maintenance schedules and providing individualised offers to customers. Hyosung Innovue and Diebold Nixdorf are both looking at the use of AI.

Video banking: Some banks are starting to explore the use of video banking as a way of maintaining customer contact as they cut back on branches. ATMs which are capable of video interactions are particularly useful outside of regular branch hours. The sort of interactions already being carried out range from denominationspecific cash withdrawals to balance inquiries, Know Your Customer and Anti Money Laundering checks, account openings, cheque orders and card replacement, all with per-transaction savings.

Cash automation: Diebold Nixdorf said that cash automation solutions such as cash recycling can offer savings in total cost of ownership and reduce cash replenishment efforts by up to 75%. The integration of ATMs and mobile phones, along with flexible cash recycling technology are seen as key to maximising automation benefits.

Diebold Nixdorf has also seen more cassette based TCRs in the market, which will allow ATMs and TCRs to benefit from interchangeable service parts and processes in both self-service channel and branch. It will also allow common services like reporting and monitoring.

Other trends: It is interesting that other trends focused on how to deal with crime and fraud – the adoption of dual-factor authentication between ATMs and mobile devices, more contactless ATMs, which eliminate skimming, and alternate authentication using Near Field Communication, a one-time passcode, biometrics, or user IDs. All in the name of customer convenience.

Providers of ATMs and ATM services also see major advantages in fully integrated ATM solution that can deliver contactless, cash recycling and advanced software in one package.