The Future of ATMs in Banking

It’s been a tough year for the ATM industry. The core function of these automated tellers has always been cash dispensing. But when cash suddenly becomes an alleged pandemic “disease vector” thanks to widely circulated, but mistaken, reports of a World Health Organization statement, it caused the ATM industry great angst, coming on top of a growing movement toward digital transactions.

Oddly enough, ATMs were the first popular form of digital banking. ATMs are “an inherently phygital device — part physical, part digital,” it states on the website of the ATM Industry Association, known as ATMIA.

A major initiative of the trade group, its “Next Gen Reinvention of the ATM” will take the machines even deeper into the digital realm, and points to a bright future for the ubiquitous devices. More on this below.  Read the entire article . . .