Introducing: ATM Future Trends 2017
ATM Marketplace and Auriga are proud to present the 5th edition of the biannual ATM Future Trends report, an industry roadmap of sorts to the future of the planet's 3 million (and counting) ATMs and the literally billions of people who depend on them day to day.
This year's edition includes results from our survey of more than 300 ATM industry members at all corporate levels, and our surveys of 1,000 consumers in the United Kingdom and the United States, as well as more than a dozen commentaries from recognized industry experts.
Following is an excerpt from the report's executive summary; download the free document in its entirety here.
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It was 50 years ago — June 27, 1967 — that the first cash-dispensing machine went live at Barclays Bank in London's Enfield borough.
From this inaugural installation, an entire industry has grown, with the result that, today, you'll find ATMs everywhere — in fact, 3 million of them in installations all over the world, from the most populous cities to the loneliest outposts, including a mountaintop in the Himalayas.
As they've increased in number, ATMs have also stepped up impressively in sophistication. Today's ATMs are a far, far cry from that first installed De La Rue machine.
Of course, they still dispense bank notes around-the-clock, but many of them perform transactions no one imagined automating 50 years ago.
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However … it is also true that operators of these amazing machines face challenges that no one thought much about 50 years ago either, including:
- the cost of competitive upgrades;
- expenses related to compliance with government regulations and network rules;
- pressure from governments and groups to reduce or eliminate fees and surcharges;
- physical attacks that can destroy an ATM and cause catastrophic damage to the structures around it;
- sophisticated malware attacks that can result in multimillion-dollar losses within hours;
- skimming and other scams that shake public trust in the safety and security of ATMs;
- proliferating payments technologies that reduce consumer demand for cash; and
- rising government interest in (and international card brand promotion of) the concept of a "cashless society."
The future of the ATM industry is also complicated by issues that include:
- continued global economic uncertainty a decade removed from the Great Recession;
- political and economic angst over the pending exit of Great Britain from the European Union and the rumored exit of other EU nations;
- the increasing sophistication of cyberattacks and their threat to critical infrastructure and financial markets; and
- a new and disruptive United States administration disposed toward the imposition of tariffs on imported goods — including ATMs.
That's one half of the glass.
The other half is filled with vibrant growth and opportunity all across the ATM and self-service industry.
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[The future holds] enormous potential for both financial institutions and independent ATM deployers — especially those whose business model is flexible, adaptive and nimble and whose employee culture is collaborative, creative and, above all, service-driven.
If you sneak a look at the last graph in the report, you'll see good news for the ATM as it achieves the half-century mark: Industry members who think the ATM has passed its peak are outnumbered by those who believe the ATM is at or still approaching its prime by a ratio of 4 to 1.
It is to these visionaries and their success that we dedicate this report.
Suzanne Cluckey / Suzanne’s editorial career has spanned three decades and encompassed all B2B and B2C communications formats. Her award-winning work has appeared in trade and consumer media in the United States and internationally. She is now the editor of ATMmarketplace.com and BlockChainTechNews.com