SIX and Credit Suisse play same game with ATM software launch
SIX and its partners were commissioned by Swiss banks to develop the centralised multivendor software and it is planned to function on all bank ATMs in the alpine nation from 2018. There are currently over 20 individual solutions in use in the Swiss market from four different manufacturers. According to SIX, a common standard “increases reliability and saves costs in a field in which it is no longer possible for the banks to differentiate themselves”.
Jürg Weber, division CEO SIX Payment Services, says standardising ATMs “will allow the banks to simplify numerous processes over the long term, and in this way benefit not only from cost advantages, but also from a stronger concentration on their key business”.
ATMfutura will offer functions across the entire bank ATM network, such as cash withdrawals and deposits using a QR code via smartphone; free selection of accounts when making cash withdrawals; a talking ATM, for the visually impaired; and the choice of individual bank note denominations.
The first ATM equipped with the new standard software went into pilot operation at the Credit Suisse branch in Oerlikon today (16 May).
The bank will gradually phase in new functions, while keeping the usual standard functionalities. In a second step, from October Credit Suisse will gradually equip other ATMs at its Oerlikon branch with the new software, including those with combined deposit/withdrawal functionality.
The expansion of the pilot project to include this type of machine will also allow the user to select the account to which to make a deposit. What’s more, Credit Suisse customers holding euro accounts can then also pay that currency directly into their euro accounts.
UBS will be the second bank to enter the new ATM into pilot operation, according to a different time frame.