Innovating outside the box

Innovation has happened “inside the box” for over 50 years, since the first ATM was deployed in 1967. From mag-stripe cards to contactless, from cash out to deposit recycling, from ATMs to ITMs — innovation has made the channel a strong counterpart to the growth of digital banking. While innovations in hardware and software remain important, the innovations driving change for financial institutions and their customers going forward are focused on business outcomes, distributed cloud access and “as a service” solutions.

Traditional banks, credit unions, neobanks and digital banks all rely on the ATM to provide the physical connection to customers’ digital accounts, but how they do so has changed dramatically. The days of owning ATM hardware and sourcing multiple vendors or maintaining in-housing service are drawing to a close. Instead, “as a service” models are selling outcomes — enhanced security, a better user experience, cutting-edge innovation — while distributed third-party networks of ATMs and a physical self-service cloud are supplementing or replacing an institution’s own physical locations.

In this discussion, you will learn:

• What the aaS model means for financial institutions and their customers
• How on-premise aaS networks and third-party networks differ, how they complement each other, and how an institution can find the optimal mix
• The opportunities that exist for non-traditional account providers, like crypto wallets, to grow through third-party ATM network access

PRESENTER:

Colin Payne
Corporate Vice President, Global Lead Fintech and AltFi
NCR

Colin has over twenty-five years of experience at the leading edge of technology and change, delivering innovative solutions through the design and the deployment of world class digital banking and fintech solutions. He leads a new global practice dedicated to the next generation of financial services.