DAYTON, Ohio -- More than 60 representatives from software and switch companies, including Concord EFS, NYCE Corporation, Mosaic Software, Metavante Corp., S2 Systems, Genpass Technologies, Core Data Resources, Lynk Systems and ACI, identified the need for increased revenue streams at the ATM as critical to the future business plans of ATM deployers.
NCR conducted an exit poll at the conclusion of a recent two-day self-service summit at NCR (NYSE: NCR) world headquarters in Dayton, Ohio, asking attendees to rate the importance of several identified business needs according to the perceived level of importance in the next three to five years.
For financial institutions, 82 percent rated "increased revenue streams at the ATM, such as third-party advertising or bank product sales" as "highly important" or "important." Seventy-five percent rated "improved back-office processing, such as re-engineered cash and check deposit processing for ATMs," as "highly important" or "important."
For non-financial ATM deployers, 93 percent rated "increased fee revenue generation through new transactions" as either "highly important" or "important."
For summit attendees themselves, Triple-DES encryption was the highest top-of-mind technical issue facing the ATM industry. Both MasterCard and Visa will require this high-security encryption standard on new ATMs in 2002 and existing ATMs by 2005. With 300,000 ATMs installed in the U.S., all ATM deployers will need to make investments to activate Triple-DES on both new and existing ATMs.
Summit attendees indicated that for software and switch providers, writing the code and achieving Triple-DES certification is an initiative similar in scope to Y2K preparedness.
