News
New organization aims to establish standards for wireless ATM security, reliability
Founders of the ATM Connectivity Coalition hope to introduce standards that will ensure a robust and secure transaction environment without placing an unreasonable burden on ATM operators.
November 21, 2014
Three ATM wireless technology providers this week announced the formation of a new industry group, the ATM Connectivity Coalition. According to a news release from founding organizers Contour Networks, The DPL Group and OptConnect, the coalition responds to a need for standards in security, connectivity and stability in the rapidly growing category of wirelessly connected ATMs.
The mission of the coalition is to advance, protect, and promote secure connectivity solutions for the financial transactions industry through education and advocacy, in addition to the establishment of standards, the release said.
"Privacy and security are on our minds more than ever before," said Chris Baird, executive vice president of OptConnect. "As leaders in the industry, we have a responsibility to financial institutions and the public to ensure the services we provide are stable and secure. The ACC is designed to establish standards so we can continue to meet this need."
The founders envision that the new coalition will engage with ATM and related hardware manufacturers, additional wireless network providers, host ATM processors and others.
"We are at a critical phase in the growth of the industry, and by cooperating across organizations, we can ensure the best service for the collective market." said Marc Albert of the DPL Group. "We are proud to be joining forces with other market leaders as part of this important initiative."
Marc Winn, chief security officer of OptConnect parent company Japan Communications, predicted that the ATM Connectivity Coalition will become the trusted connectivity standards body for the financial transactions industry. "We anticipate that payments networks and transactions processors will appreciate and embrace a set of standards that enable a more robust and secure transactions environment without placing an unreasonable burden on ATM operators."
The release said that the end goal of the ACC will be to place the bulk of the security compliance burden on network providers rather than on ATM operators, in hopes of increasing the rate of compliance.
As envisioned, the ACC Network Security Standard will provide guidelines that reduce security exposures and, resultantly, reduce the scope of current or anticipated regulatory requirements for ATM operators.
The ACC plans to roll out a website and Version 1.0 of its standards by the end of the year.
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