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2009 was an interesting year. From the affirmed economic recession to the realignment of corporate strategies and missions, 2009 was anything but dull. We begin 2010 with much anticipation and hope for a more fruitful 12 months.
Looking back over the last year, I've seen a number of changes in the industry. With all of the pressures that have befallen the international financial space, it would be hard not notice significant shifts. But some movements have stood out more than others, as have some executives.
Here is a list of the top six leaders I plan to watch in the coming year:
1. Todd Nuttall, chief executive of Arizona-based Better ATM Services Inc.
Go to any ATM tradeshow and you'll hear the buzz about Better ATM Services. This relatively new ATM player is garnering a lot attention around its patented prepaid card dispensing solution, which uses an ATM's existing cash tray to spit out prepaid cards. To date, the company has signed deals with ATM manufacturers Triton Systems of Delaware, Wincor Nixdorf and Diebold Inc., and says it is in talks with several others. In April, Better ATM announced its first international deal, when it signed with Capital Market Technologies to distribute its card-dispensing technology throughout Europe.
"We are looking forward to working with CMT to guide our expansion into international markets," Nuttall said in April. "From initial reports, European customers are expected to rapidly embrace Better ATM Services' innovative ATM-based payment card dispensing technology. We anticipate some very creative applications of our technology developing from this relationship."
2. Dan Gardner, chief executive of Pennsylvania-based Select-A-Branch ATM Network LLC
Select-A-Branch's unique multibranding platform came to the forefront in late 2007, when SAB began announcing ATM-branding deals with PNC Financial Services Group Inc. and TD Banknorth Inc. That year the company also announced a one-of-a-kind ATM branding deal with 70 New York City McDonald's franchise locations. Over the course of 2008, the company went on to sign a deal with one of the world's largest independent sales organizations, TRM Corp., now known as Access to Money.
While word of SAB's multibranding software —which allows a single ATM to promote and provide surcharge-free ATM access to cardholders of numerous financial institutions — continues to spread, the company is poised to make significant strides, domestically and internationally, throughout 2010. When a user's card is inserted into an SAB ATM, SAB's software identifies from which FI the card originates and then targets the user and FI brand on the welcome screen. The solution allows ISOs to sign deals with multiple FIs, and allows FIs to significantly increase their ATM footprints in a way similar to signing with a surcharge-free network provider.
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3. Ana Stewart, chief executive of Scotland-based i-design
I-design suffered in 2009 from the economic blow that hit most advertising companies, reporting in November financial losses that nearly doubled from 2008. But the company's unique third-party advertising platform, atmAd, which launched in 1991 and has the backing of big-name U.K. bank clients such as RBS and Barclays, will likely weather the storm.
Despite the company's net losses, i-design did post a 14 percent year-over-year revenue increase from 2008 to 2009, and I expect the company see net and revenue increases over the course of 2010. As ATMs throughout the world, particularly in the United States, continue their migration to Windows, third-party advertising will become more commonplace. And i-design already has a foot in the door. In fact, in November i-design announced its first U.S. and Puerto Rican reseller deal with self-service equipment and technology provider LD Systems. It will be interesting to see where Stewart takes the company next.
4. Aravinda Korala, chief executive of Scotland-based KAL
KAL is not a new player, but it is a company that continues to make significant inroads in the ATM software space throughout the world. Third-party ATM software is no longer something FIs question. Multivendor, third-party ATM software is something most ATM deployers throughout the world demand, as mergers and acquisitions have left most FIs with mixed networks of ATM hardware.
Leading KAL is Dr. Korala, who founded the company in 1989 and who is well known throughout the industry as a leader in ATM software. KAL's Kalignite software is used by multiple FIs throughout the world. I expect that use to continue to increase throughout 2010.
5. Bill Nuti, chairman and chief executive of Georgia-based NCR Corp.
At the helm of the world's largest ATM manufacturer, Nuti in 2009 proved to be a leader willing to go against the grain. The company's decision to pick up and move its base from Ohio to Georgia was, in a word, revolutionary, and one that took many in the industry by surprise. The decision, which at its core brings U.S. ATM manufacturing back in-house, stands to benefit NCR's U.S. ATM position, as the company's new 340,000-square-foot manufacturing facility will focus on the manufacture of NCR's SelfServ ATM line. 6. Greg Steffy, senior director of Integrated Services for Ohio-based Diebold Inc.
In early 2009, Diebold announced plans to transition its corporate mission from products to services. The move was a bold one, and one that others in the ATM space were quick to follow.
With decades of ATM experience under his belt, as well as a long track record with Diebold, Steffy is the kind of leader who will help Diebold take its services strategy above and beyond where it is today. Identifying, early on, a need to focus on service will set Diebold apart and allow Steffy and the rest of Diebold's executive team to get a head start in the financial-services space.
In November, Diebold hosted an IS Symposium in Boston, explaining that its Integrated Services solutions aim to incorporate everything from mobile banking to branch security. IS expects to be a truly integrated solution for FIs.
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