With all the turmoil in financial markets these days, from the currency crisis in China to the collapse of stock prices around the word, I began to get a little nervous thinking about what could happen next here in the U.S. That's when I decided to take some action!
When it comes to new ideas in currency, banking and ATMs, the concept of branchless banking seems to be growing in popularity. According to a survey performed by Accenture, consumers in the U.S. and Canada are now more likely to consider branchless banking or non-traditional providers. What's more, millenials, are more likely to consider branchless banking than other segments of the population. What does this mean for the future of banking, and what can financial institutions do to survive the trend?
Running your own ATM business and keeping it profitable can be a real challenge. Small to medium-size operators often face stiff competition from more established players. And. without years of experience they may make common mistakes that can be very costly. Guest columnist Jeff Sosville, Founder of ATM Brokerage, returns with his latest insights on the 8 mistakes to avoid when operating an ATM business.
The oldest challenges in the ATM industry are the security of cash inside the machine and the guarantee that the withdrawer is genuine.
Whereas the magnetic stripe has been used for a long time, EMV chip and PIN is now commonplace in the ATM industry for withdrawals in the U.K. and Europe. But the fact that EMV is not truly global as yet means that fraud can continue to take place.
