ATMs have come a long way since their inception in the late 1960s. From clunky machines that had to be attached to buildings to stand-alone kiosks that can fit in any store, pedestrian walkway or business, as the old commercial said, “You’ve come a long way, baby!”
The ATM industry is not a stagnant one. New innovations for ATM security, user-interface, and design are constantly being introduced. So, what are some ways that ATMs might change in the future?
ITM
The future is already here when it comes to ITMs. An ITM is basically an ATM with interactive capabilities, hence the name Interactive Teller Machine. Some banks around the United States have installed ITM machines to give customers a “branch in a box” feel, where bank customers can interact with a human representative in real time.
Digital Capabilities
ATM manufacturers are also seeking ways to enhance their digital capabilities for customers who prefer the digital experience. Some of these out-of-the-box innovations include biometric authentication and electronic receipts. ATMs may also soon allow customers to use their smartphone to access cash through the ATM.
Increased service and capabilities are driving ATM innovations to better serve customers in this ever-advancing world.
