THE CHANGING ATM LANDSCAPE
Over the last decade, innovation in ATM services has been severely restricted as a result of several factors, including monopolistic business practices, restrictive legacy message protocols, and proprietary systems that became isolated from other banking channels and investment.
However, the exciting news is that this situation is poised for rapid, and positive, change. The ATMIA's new blueprint architecture specifically calls for cloud- based processing, the use of modern integration options including ISO 20022 and APIs, and greater flexibility for ATM deployers to tailor the consumer's experience themselves.
As a global leader in Retail Payments solutions, Lusis Payments is a strong contributor to the NextGen ATM initiative through its well proven TANGO transaction orchestration engine.
When it comes to payments processing, TANGO is simply in a class of its own with 4 of the top 10 banks already using TANGO to empower their consumer payments strategies. TANGO is functionally-rich and well proven within both large and small banks and processors around the world.
PERSONALIZED SERVICE: The New Battleground
Consumer expectations and payments technology have both changed significantly since the early days of ATM services. In particular, the personalization of services to match a specific customer’s need is now commonplace for most digital channels.
There is no doubt that business stakeholders are extremely interested in the attraction and retention of customers. In this respect the personalization of consumer service interactions is rightfully receiving significant investment.
The replacement of the restrictive legacy ATM message protocols with XML and JSON alternatives is re-writing the market opportunities for providing a personalized ATM experience to everyone. In a NextGen world, a consumer's journey can be continually refined in real time by the provision of relevant, consumer-specific information that dynamically enhances transaction workflows based on the consumer's profile and choices. Of course, this power requires the transaction switch to have the flexibility to retrieve and distribute the consumer's data securely and without unreasonable processing delays.
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