All existing ATMs to be replaced with these new featured ATMs. Know more about it.

Evolution in a technology has no limit. Years before when ATMs were installed by banks, people had benefitted from these innovative machines as people were able to withdraw money anytime & anywhere. Now some more advanced features are being added with ATMs and existing ATMs in India will soon be replaced with more innovative and multi-function machines. These new featured ATMs will ease people’s banking transactions like using boimetrics to prevent unauthorised access of account, easily transfer funds to other accounts and many other innovative features. 

The Automated teller machines (ATMs) across the nation are set to be replaced in the next three to four months with more innovative and multi-function machines. As per details by officials of NCR Corporation, bank ATMs will be replaced to increase safety as the new ones are set to have face, biometrics recognition features. NCR Corporation is a global leader in omnichannel solutions and has a 50% ATM market share in India. It has come out with innovations like Interactive Teller ATM and EMV contactless ATM from its research and development centre in Hyderabad. The existing ATMs across the nation were deployed 8 to 10 years ago. With the replacement of these old ATM machines in metro cities, the existing ones will be moved to tier II and tier III cities.

Here are some highlights of the new featured ATMs –

• The multi-function ATMs will have innovative features like face recognition and biometrics.
• With the replacement of these old ATM machines in metros, the existing ones will be moved to tier II and tier III cities.

Here’s what the new ATMs will have – 

• The multi-function ATMs will have innovative features like face recognition and biometrics.
• It will facilitate customers in transferring money and depositing cash and cheques.
• The machines will not run out of money as the cash deposited by customers will be dispensed.

Post demonetisation, the ATM market in the country has gone down. NCR is of the opinion that with the replacement of existing ATMs, the market would return to 9% annual growth rate as the progression to cashless economy will be slow.

R&D centre of NCR Corporation in Hyderabad would focus on the development of innovative technologies to assist customers across the industries NCR serves. The centre will be developing and supporting innovative software and services that global institutions use to empower consumers through self-service applications. The NCR’s manufacturing facility in Chennai has manufactured 200,000 ATMs since 2004. The company exports 70 percent of the machines manufactured in Chennai facility.

We hope innovations in ATMs to ease people’s banking related needs.