Why SOC 2 Compliance is Important for the Financial Services Industry Cybersecurity threats are at an all-time high, and financial institutions are among the most significant targets. In 2023 alone, more than 3 billion individuals were affected by data breaches. The stakes for banks and credit unions are extremely high, with the average cost of … Read more
How ITMs Help Banks and Credit Unions Serve Rural and Remote Communities For financial institutions and their consumers, the branch is a hub. Account holders come to the branch to handle many of their banking tasks at a location that is central for the community. The purpose of a branch is to provide high-quality service … Read more
Why Banks and Credit Unions MUST Provide Seamless Banking Experiences Digital technology is transforming industries and introducing consumers to new levels of convenience. When customers connect with businesses, they expect continuity across mediums for a consistent experience no matter how they interact with the business. Consumers are accustomed to having the same access and capabilities … Read more
How Banks and Credit Unions Can Minimize the Risk of Jackpotting Attacks Though banks and credit unions have always committed to ATM security, the threat of jackpotting is bringing the goal of protecting ATMs into renewed focus. ATM jackpotting is the use of physical or software vulnerabilities to force an ATM to dispense cash. These … Read more
ATM Managed Services: Why You Should Use an ATM Management Company For decades, managing ATMs has been a vital part of financial institutions’ service offerings. In the past, banks and credit unions could easily handle the upkeep of these machines on their own. However, the rapid evolution of technology, regulatory demands, and shifting customer expectations … Read more
What is the Difference Between a Terminal Driver, a Transaction Processor, and a Switch? When an ATM user withdraws cash from an account, makes a deposit, or performs another transaction, such as making a payment from their banking account, several related components come together to make that digital transaction happen. The ATM must be able … Read more
Countless emails are going around the industry, with many professionals at financial institutions voicing concerns about rumored changes to NCR’s equipment fleet. Bank and credit union leaders are worried about NCR hardware and software end-of-life dates and what they mean for business. This article will cover what “end-of-life” means, which NCR products are affected, and … Read more
Technology is ever-changing, bringing new advancements in ATMs, ITMs, payment systems, and fintech seemingly every time we turn around. Technological growth often makes our lives more convenient, but it also presents us with challenges in the form of nearly constant security threats. Vulnerabilities arise as technology changes, and so technology evolves again in response. We … Read more
What happens when a user makes a transaction via ATM? How do the details of the transaction get back to the banks involved? This blog post offers insight into how ATM processing works. Read on for information about ATM transactions and learn how ATMs connect to networks to make it possible for people to withdraw … Read more
A year ago, we featured a post that spoke to an increase in ATM hook and chain attacks. We wish we could tell you it is all behind us. However, these physical attacks on ATMs and ITMs have not stopped. We continue to see banks and credit unions suffer costly thefts and damages. Sometimes the … Read more