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ATM & Mobile Executive Summit 2013: The ATM-mobile connection
On day one of the first annual ATM & Mobile Executive Summit in Washington, D.C., ATM Marketplace Editor Suzanne Cluckey gave a morning presentation on the histories of telephony and the ATM, leading up to the convergence of the two technologies. Cluckey talked about the very real potential of mobile-enabled transactions and cautioned against dismissing them as a passing fad. She used the analogy of Alexander Graham Bell and Western Union as a cautionary tale: Shortly after being awarded the patent for the telephone, Bell offered to sell it to the telegraph company for $10,000. The president of Western Union passed, saying that Bell's device was just a "toy." Two years later, he confessed that if he could still get the patent, he'd pay $25 million for it. His mistake was in underestimating the average consumer's desire for the experience, Cluckey said. Later, in an interview with Networld Media Group Executive Editor Joe Grove, Cluckey explained the process for — and advantages of — mobile prestaging, the most touted of today's ATM-mobile solutions. Read more about mobile banking.
October 7, 2013
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