Wincorf Nixdorf Expects Banks To Focus On Security In 2011

Wincor Nixdorf recently announced the top three trends that it expects U.S. retail banks to focus on this year.

“The various regulatory changes in 2010 have resulted in an increased number of banks looking to cut costs and become more profitable through channels such as the ATM,” said Alan Walsh, the executive vice president for Wincor Nixdorf’s U.S. Banking Division. “This year, the retail banking industry will make strategic investments in more sophisticated ATMs to offer their customers more features and functionality as well as the advanced protection against ATM fraud.”

Wincor Nixdorf predicts the following trends will shape the retail banking and ATM industry this year:

  • Automation: As the retail banking industry grapples with the loss of revenue from overdraft charges, automation is becoming a necessity. According a recent Wincor Nixdorf survey, consumers continue to demand more features and functionality at their ATM. Therefore, there has never been a better time for banks to embrace technology such as envelope-less cash/check deposit which significantly reduces costs related to cash handling. Retail banks that offer this will realize a competitive advantage, as well. The survey also revealed that, if all else was equal, and one bank offered envelope-less cash and check deposit and another didn’t, consumers prefer the bank with this functionality.
  • Security: As the ATM increasingly becomes one of the primary interaction points between retail banks and their customer base, banks will need to protect their customers by investing in more sophisticated security measures. This will not only protect ATM users, it will reduce the risk of the bank loosing both money and customers. With more sophisticated security software, retail bank managers can monitor and control their ATM networks anytime, anywhere. This will significantly reduce the time and costs spent on securing the ATM and will provide managers with assurance that their ATMs are less vulnerable to fraud.
  • Flexible Software: Banks will look to adopt more innovative and flexible software this year to fully leverage the ATM channel. Flexibility allows the bank to enhance their ATMs and constantly improve their offerings to engage, communicate and remain at the forefront of the customer’s financial needs. Advanced software will also allow retail banks to have a more personalized interaction with their customers, with customized fast-cash withdrawal amounts or even targeted promotions such as a mortgage rate for 30-year-olds or a college savings account for middle-aged users. Innovative software will be embraced this year more than ever because the ATM will increasingly become a central hub for all of the customer’s financial needs such as person-to-person payments or bill payments, as well as applying for loans and opening new accounts.

Featured

  • Until We Meet Again

    A short three years ago we were all pondering whether to attend any tradeshows all thanks to COVID-19. Sorry to bring that nightmare up again, but it seems that little pandemic is in the rear-view mirror, and it’s time to meet again. Read Now

    • ISC West
  • Cyber Hygiene: What it Looks Like for IoT Devices

    Cyber Hygiene: What it Looks Like for IoT Devices

    For our second pillar about the Industrial Internet of Things (IIoT) Pillars of Security, we are going to discuss what cyber hygiene looks like for IoT devices. Read Now

  • ISC West Announces 2023 Keynote Series Speaker Lineup

    The International Security Conference (ISC), in collaboration with premier sponsor Security Industry Association (SIA), announced five of this year’s ISC West Keynote Series speakers. ISC West will kick off its annual conference on March 28 (SIA Education@ISC: March 28-30 | Exhibit Hall: March 29-31) at the Venetian Expo in Las Vegas, Nevada. Read Now

    • ISC West
  • Accelerating Security Modernization

    In recent years, the term “digital transformation” has been one of the most frequently used buzzwords across industries. On its most basic level, it refers to the reimagining of how an organization leverages its technology systems to improve business processes. Read Now

Featured Cybersecurity

New Products

  • SAFR® from RealNetworks

    SAFR® from RealNetworks

    A unique feature in SAFR version 3.4 is its ability to automate alerts to security personnel when a spoofing attempt or a fraudulent attempt to gain access is detected. 3

  • VideoEdge 2U High Capacity Network Video Recorder

    VideoEdge 2U High Capacity Network Video Recorder

    Johnson Controls announces a powerful recording solution to meet demanding requirements with its VideoEdge 2U High Capacity Network Video Recorder. This solution combines the powerful capabilities of victor with the intelligence of VideoEdge NVRs, fueled by Tyco Artificial Intelligence, for video management that provides actionable insights to save time, money and lives. 3

  • ALTO Neoxx Electronic Padlock

    ALTO Neoxx Electronic Padlock

    Built to withstand all access control needs, the tough new SALTO Neoxx electronic padlock takes security beyond your expectations. 3