Banks are looking at new and innovative ways to replace their ATM software, with 29% already planning and budgeting to replace their current ATM software by 2017, according to a new survey.

More than half of all the banks surveyed already provide NFC technology on their ATMs, enabling customers to withdraw money using their smartphones. 39% of respondents said that they aim to introduce faster withdrawals through better integration with customers’ mobile phones. Users could, for example, line up a transaction on their mobile as they queue at the ATM, using a QR code to complete the process when they reach it to save time.

Commenting on the results Vincenzo Fiore, CEO of the banking software company Auriga, says that “so many innovative projects have their basis in ATM software, and banks are always looking to retain consumers and offer them a more personalised experience which can be done through increased integration across all channels.”

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by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: