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Major banking companies plan ATM upgrades as economy changes

November 16, 2008

American Banker: The modern automated teller machine will soon be turning 40, and after years where the basic technology was relatively stable, it is suddenly going through a period of rapid evolution.Several major banking companies, including JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and Wells Fargo & Co., are upgrading their ATM fleets or planning to do so, and these efforts are good news for the ATM industry. Deposit processing is a good example of the new ATM capabilities that have caught the attention of U.S. banks.

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