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Connexus : Issue 37
Connexus www.abacus.org.au 38 and coins, says Chant. No envelope is needed, the cash is counted and the total is displayed on-screen with a tally by denomination. With cheque deposits, customers confirm an image on the screen and are given a receipt for proof of deposit. “From a business point of view, staff can spend more time with customers who need help, or in taking care of higher-value transactions such as loans and other products,” s ays Chant. Also in the pipeline is ATM cash recycling technology which can validate deposited notes as it counts them and instantly credit customers’ accounts, says Petit. “The technology also has the ability to sort banknotes according to their fitness and denomination, immediately making the recycled cash available for withdrawal at the next ATM transaction. This results in higher availability of the ATM and reduces the need for expensive and time-consuming cash-in-transit and cash replenishment operations.” Recent innovations in ATM security include a shield that stops fake card slots reading the magnetic strips on cards. As a card is inserted, the shield emits a signal which scrambles the magnetic read. The shield switches off once the card is fully inserted. Other new design features include shields that conceal PIN numbers as they are being typed in, and convex mirrors which allow customers to see if there is anyone behind them while they perform transactions. – Cynthia Karena is a freelance writer. Biometric recognition Eye and thumbprint recognition is available already on ATMs in Europe, Asia and the United States, says Don Mitchell, head of acquiring at Indue. “You could integrate facial recognition technology, where the ATM camera identifies a customer’s face and approves a transaction,” he says. “But the costs and the opt-in system of getting every customer’s permission, scanning customers’ faces and maintaining the databank may prevent this in Australia.” Developing a uniform solution that would allow cardholders to use any ATM would be near impossible because there are so many ATM deployers and models, he says. “It would at least require a centralised database of everyone’s biometric data.” TECHNOLOGY “For example, via the ATM, a mutual will be able to offer a new product or service that can be customised to meet the specific requirements of a customer.” James Petit, managing director of Diebold Australia Don Mitchell