Banks are essential businesses and ATM technicians are considered critical infrastructure workers, meaning ATMs haven’t been legally required to close during the pandemic. However, many ATMs did close due to decreased demand as people opt for contactless payment options to minimize their exposure to germs. According to a survey by the ATM industry trade association, ATMIA, nearly half of ATM deployers and vendors have only operated 75% of their machines during the pandemic, and 27% have operated less than half.Get more news about Atm Rollor,you can vist our website!
Meanwhile, contactless payments have continued gaining adoption, with more than half (51%) of Americans now using a touch-free payment method such as tap-to-go credit cards or mobile wallets like Apple Pay, a recent Mastercard poll found. Furthermore, 54% of Americans indicated that it is “very” or “extremely” important to be able to open or access their financial accounts in a contactless manner, according to a Mitek survey from September 2020. With consumers increasingly valuing contactless interactions, the old touch-to-operate ATMs around the world need to be quickly modernized to stay relevant.
The most logical approach to achieve this is would be a combination of facial and voice recognition technologies. Facial recognition allows users to easily verify their identity without a physical interaction such as needing to insert their card or enter a PIN. Leveraging voice recognition or mobile phone integrations for commands would also help users avoid having to press buttons or a screen during their transaction. Smartphone integrations would also allow financial institutions to offer two-factor authentication (2FA) as an added layer of security. Because not all people have access to smartphones, however, financial institutions should ideally offer voice recognition and mobile integration as a backup or alternative to touch commands.
Regardless of whether 2FA is in place, having a reliable facial recognition solution is paramount. The solution needs to accommodate varying backlighting and have an adaptable focal length to capture high quality images regardless of the consumer’s angle, distance and background environment. To safeguard against potential fraud, these solutions also needs anti-spoofing capabilities, including:
Financial institutions have long been striving to reduce the contact required during ATM interactions, but it’s generally with the objective of enhancing convenience rather than eliminating contact entirely. For example, Bank of America, Wells Fargo, Chase and Barclays all offer cardless ATM access, but those initiatives still require customers to enter their PIN into the ATM.
In June, Spain’s Caixabank announced plans to roll out more than 100 facial recognition-powered ATMs that enable users to withdraw cash without entering a PIN, but users still need to touch the ATM screen to enter the withdrawal amount.
