The world of banking channels—specifically ATMs—continues to be dynamic and challenging for financial institutions. With the sunsetting of support for Microsoft XP, future Windows 7 migration, and the coming of EMV, banking personnel responsible for ATMs, channels, and line-of-business operations have much to think about. This is particularly important because XP is the operating system for many ATMs and banking sites.
After about a dozen years in the market, support for Windows XP will end on April 8, 2014. Microsoft will no longer provide security updates or technical support for the Windows XP operating system. While this is a high priority for FIs overall, not all are ready.
Anecdotal evidence suggests that many FIs are only recently rushing to meet the deadline. Some are working with their ATM manufacturers or service providers to receive extended, yet costly, coverage. This coverage would be needed, though, because such capabilities as writing custom code, security patches, and mapping of functionality to new software programs will still be required.
Additionally, few ATM owners in the United States have upgraded and activated their ATMs to EMV cards, as much of the industry’s attention has been focused on issuing of EMV-chip-bearing credit cards. Many, if not most, FIs, though, are in the process of determining the best course of action for their organizations, realizing that the use of chip-and-PIN EMV cards in Europe helped reduce ATM fraud by over one-third. However, many FIs are closely following the adoption of EMV-enabled credit cards and investments by merchants in their point-of-sale devices to guide their time frames and product road maps.
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