SIX and Credit Suisse Launch ATMfutura

by PaymentsJournal 0

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The pilot phase of “ATMfutura” – the innovative ATM project ofSIX and the Swiss banks – was launched successfully in May. Credit Suisse hasthe first “ATMfutura” cash dispenser.

SIX and its partners were commissioned by the Swiss banks to developcentralized multivendor software for ATMs. The software is planned to functionon all bank ATMs in Switzerland from 2018, thereby substantially enhancingefficiency in this business field. There are currently over 20 individualsolutions in use in the Swiss market from four different manufacturers. Acommon standard increases reliability and saves costs in a field in which it isno longer possible for the banks to differentiate themselves.

Simplified and with new functions

The standardization of software has the advantage of displaying to customersthe same user interface and the same user guidance on all ATMs in Switzerlandin future – which will substantially simplify their operation. New functionsthat until today have only worked at individual banks will be possible with”ATMfutura” across the entire bank ATM network: these include cashwithdrawals and deposits at the ATM using the QR code via smartphone, forexample; the free selection of accounts when making cash withdrawals; thetalking ATM, a function for the visually impaired, and the choice of individualbank note denominations.

The first ATM equipped with the new standard software went into pilotoperation at the Credit Suisse branch in Oerlikon today. The bank willgradually phase in new functions, while keeping the usual standardfunctionalities. In a second step, from October Credit Suisse will graduallyequip other ATMs at its Oerlikon branch with the new software, including thosewith combined deposit/withdrawal functionality. The expansion of the pilotproject to include this type of machine will also allow the user to select theaccount to which to make a deposit. What’s more, Credit Suisse customersholding EUR accounts can then also pay EUR directly into their EUR accounts.UBS AG will be the second bank to enter the new ATM into pilot operation,according to a different time frame.

Florence Schnydrig Moser, Head of Products & Investment Services, atCredit Suisse (Switzerland) Ltd, commented: “Making cash withdrawals fromATMs is one of the most often used bank services today.

“ATMfutura”is a crucial step in the direction of offering new ATM services to bankcustomers throughout Switzerland. Thanks to the standard user interface, allcustomers will have a consistent and enjoyable user experience at every ATM,irrespective of which bank it is being operated by.”

A total package as the goal

The standardization of ATM user interfaces usingmultivendor software is merely the first step of “ATMfutura”. In thefuture, “ATMfutura” will also relieve banks of the burden of monitoringand managing their ATMs. By offering central monitoring, SIX is creating thenecessary conditions for offering other elements of the value chain. This mayinclude evaluating locations, alongside installing, maintaining and disposingof ATMs, as well as refilling them with cash.

The aim of “ATMfutura” is in fact to offer acomprehensive package in this business field. This is where enormous potentialis to be found: banks outsourcing the operation of their ATMs to SIX can expectsignificant cost savings, thanks to standardization, volume bundling andprocess optimization. SIX, for its part, is placing its business model on aneven broader footing.

Jürg Weber, Division CEO SIX Payment Services:”ATMfutura” will enable SIX to make a key contribution to enhancingefficiency in the banking services sector. Standardizing ATMs will allow thebanks to simplify numerous processes over the long term, and in this waybenefit not only from cost advantages, but also from a stronger concentrationon their key business. The customers benefit from the simplifiedservices.”