bankingciooutlook

Intelligent ATMs on the Rise!

By Banking CIO Outlook | Wednesday, September 04, 2019

Banks are focusing on innovating  ATM operations and transactions with a touch of technological advancement to stay relevant.   

FREMONT, CA: Banks are looking for ways to provide the best services available in the market. Many banks are outsourcing their ATM operations to enhance customer experience. Artificial intelligence is being established for more meaningful conversations with customers by solving real problems and managing finances. With the rise of fintech, traditional banks are pressured hard to break into profitable parts of the market. It is indeed annoying for customers to see cashless ATM centers or to stand in long queues at crowded counters. Bankers are employing AI to automate manual processes.

AI capabilities are powering the increasing number of smart ATM procedures to perform complex tasks. Such advanced ATMs can gauge demand more accurately and assess the necessity to replenish. Banks are now streamlining the use of remote access software to expedite a greater ATM network security, allowing it to update and protect machines efficiently. AI is reshaping financial services with a multitude of solutions that banks will be able to deliver in the future.

Banks are addressing the need for adopting new and innovative services to cater to the customers. Customers tend to switch to other providers once they see an additional benefit from the competitor banks. To this end, ATMs are continually evolving for the customers to experience a hassle-free cash withdrawal system. ATMs are no longer being considered as single-function machines but as an element of the smart city revolution. It is a one-stop-destination for a multitude of banking and other services. Enabling smart ATMs equipped with the most advanced software reduces the risk of cyber-attacks and exposure to on-site service technicians.

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