Blog
In the mood to steal? You might be out of luck!
Could the role of the humble ATM evolve to the point that it is able to talks good guys and bad guys, too, out of taking cash?
August 19, 2016 by Richard Buckle — Founder and CEO, Pyalla Technologies, LLC
Returning to the office after a short break — more a "bizcation" than a true vacation — it was back to checking emails and running errands. (If you are curious about bizcations — check my recent post to LinkedIn.)
For our family, any break means an extended road trip in our RV, which I load up with unread magazines and newspapers — it's just what I do to relax! There have been so many stories of late that have to do with security that, inevitably, there would be at least one news headline that would catch my attention.
For me, it's always the unintended consequences that pique my interest — fallout, totally unexpected, from any much-vaunted initiative.
For instance, a USA Today story, "Why you'll always need cash, despite PayPal, Apple Pay, etc.," quoted a NerdWallet blogger who wrote: "In snow-swept Sweden, the rise of mobile payments is making cash so sparse that some bank robbers have been left with nothing to steal." She followed this with the consoling remark, "But in the U.S., that day probably won't come anytime soon."
A colleague and good friend, Thomas Burg, chief technology officer for the security and modernization software vendor, comForte 21 GmbH, believes that we Americans are just so far behind the times.
But I suspect that even Thomas, who devotes so much to time to security issues, wouldn't have thought bank robbers could evoke our sympathy as their trade evaporated.
Not for the last time, I hope, has a semblance of good behavior arisen from a technology-driven trend. No cash? No robberies!
But if one country should succeed in going cashless, as is predicted for Sweden, will bank robbers simply move to another country? Or will they change gears and find something else to rob? If we really do our jobs well, could the unintended consequences extend to creating new industries for people bent on stealing?
I have covered this topic many times with Yash Kapadia, CEO of OmniPayments Inc., and the driving force behind the OmniPayments software suite of payments solutions.
In the emerging economies where these products are well-established, the trick has always been to get cash to those for whom it is intended, and to keep it from getting to those only too anxious to steal it. As Yash told me:
We have leveraged ATM networks for this purpose, added biometrics to ensure the recipients are who they say they are, and even added features for providing microloans for those who dream of lifting their families out of poverty. While developed countries are well on their way to becoming cashless … the bulk of the world's population is still coming to terms with basic consumerism where cash is the primary instrument for commerce. The prevailing mood of society within the communities we serve is a sense of expectation and hope, and we are always on the lookout for new opportunities for OmniPayments and remain flexible with respect to accommodating new requirements as they arise.
Yash is also acutely aware that as new infrastructure is built within developing countries, older technologies might be leapfrogged. For instance, mobile networks have the potential to reach larger populations than landlines ever could, and with mobility comes smart devices scaled down function-wise, but at affordable price points.
Cash might disappear quickly if governments sensed it would result in greater security for the communities they serve. What then of the networks of ATMs now being deployed?
This question brings me to an article on BBC.com, "New Zealand gets 'ATM for mood deposits.'" As an Australian, nothing that comes out of New Zealand ever surprises me, but to read about the deployment of "a cash machine-like terminal that asks people about their feelings instead of dispensing money," was, I admit, a head-scratcher.
As described in the article, "It has a touch screen that allows passers-by to select from more than 1,000 options and combine them to describe their current state of mind … The 'deposits' are then stored to give updates on the city's emotional condition on the project's website."
This raises a few questions: Should this facility be provided on all ATMs, even those in Sweden? Could we then alert authorities that a citizen is on the threshold of violence? Might we even be able to counsel potential bank robbers before they steal anything?
It brings to mind images from "Minority Report" of Precogs predicting the future behavior of individuals. As farfetched as it might seem, perhaps we actually are laying the groundwork now. Could the role of the humble ATM evolve to the point that it is able to talks good guys and bad guys, too, out of taking cash?
The love of money that plagues so many might generate an ATM response that few could have anticipated, and "I'm not in the mood," takes on a whole new meaning.
About Richard Buckle
Richard Buckle is the founder and CEO of Pyalla Technologies, LLC. He has enjoyed a long association with the Information Technology (IT) industry as a user, vendor, and more recently, as an industry commentator, thought leader, columnist and blogger. Richard participates in the HPE VIP Community where he is part of their influencer team.
