Bank / Credit Union

Swiss ATMs get standardized software

Photo provided by iStock

October 6, 2020

Swiss infrastructure operator for the country's financial center, SIX, has completed an "ATMfutura" migration where banks equip ATMs with standardized software that enables users to carry out financial transactions regardless of the operator of the ATM, according to a press release.

SIX ensures all ATMs in Switzerland will have the same user interface and user guidance with this standardized software, which will simplify its usage considerably and enable all users to rely on a full range of functions and the same processes at any ATM.

New functions are also available for all ATMs, such as withdrawals and deposits using a QR code, and can be activated by the banks. Other functions include free account selection for cash withdrawals; option to choose the denomination of banknotes issued and an audio function for the visually impaired.

Following the software change, SIX can now process all transactions and entries at ATMs from both the bank's own customers and third-party customers. This alleviates the need for banks to monitor and manage ATMs.

With a central monitoring solution, SIX can take over further ATM operating processes. The corresponding monitoring system from SIX can also be used as a software solution by the banks themselves.

SIX is working with various banks on additional solutions including security management, cash management and installation and maintenance of ATMs.

"Before SIX started the project, more than 25 different software solutions were in use in Swiss ATMs. Thanks to the uniform software, end customers can now benefit from many innovations across all banks. They can now also use their smartphones to withdraw cash from ATMs at several big banks and cantonal banks. The function is being activated on more and more ATMs on an ongoing basis," Marco Menotti, head banking services and member of executive board, SIX, said in the release.