Diebold Shows Off Concept 4G LTE-enabled ATM

by Mercator Advisory Group 0

Diebold has teamed up with wireless operator Verizon to develop a concept 4G LTE-enabled ATM to show off the technology’s potential security and user experience benefits.

Traditionally, ATMs communicate only with the financial institution or the transaction processor. By integrating 4G LTE technology, Diebold says it can introduce a new channel, enabling machines to communicate directly with third parties, such as service providers or monitoring centers.

By enabling direct communication to service providers, the ATM could deliver more robust service-related data on faults and maintenance issues. 4G connectivity could also enable the ATM to communicate directly with a monitoring center – without relying on an external alarm panel – meaning faster assessment and dispatch if there are attacks.

A 4G LTE connection could also provide financial institutions with the needed bandwidth to connect to the ATM wirelessly, which could prove especially useful for off-premise deployments, says Diebold.

Frank Natoli, chief innovation officer, Diebold, says: “We are committed to applying today’s most advanced technologies to deliver ongoing improvements to the banking experience. By incorporating 4G technology, we have the potential to increase efficiencies, enhance security and improve customer service at the ATM.”

Providing access to 4G connectivity offers faster processing times and the ability to communicate with more systems, including maintenance and condition monitoring programs. This will allow greater visibility into system condition, increased security, and decreased downtime, which will result in greater overall customer convenience.

Mercator Advisory Group recently published a report entitled “The Evolution Of The ATM Banking Channel” that includes information on ATMs, including remote diagnostics system and condition monitoring systems.

Read full article: http://finextra.com/News/Fullstory.aspx?newsitemid=23300

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