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The Industry Latest


Over the last decade, financial institutions (FIs) have had to upgrade or replace ATMs at a more frequent rate in order to comply with mandated upgrades related to 3DES, ADA, EMV and PCI requirements, to name a few.


ATMs are a widely-used resource for consumers to quickly access their accounts and cash while on the go. Over a quarter of consumers in the US use ATMs to access cash. And as bank and credit union cardholders flock to mobile, reliance on the ATM is increasing. Over half (54 percent) of frequent mobile banking users report an increase in ATM use, according to a study from Raddon Research Insights...


Uncertain timelines and budgetary costs are just a few of the challenges financial institutions face as they migrate their ATMs to Windows 10. In this new white paper, sponsored by Star Financial Services, banks and credit unions will learn the latest information available about Windows 10 and explore the options available including purchasing new machines, upgrading existing hardware and outsourcing their ATMs.

Over a decade ago, social media exploded onto the scene and marketing via email and social media channels became a major part of the consumer journey, which led to increasingly customer-centric experiences. However, the strongly-regulated financial industry has not undergone the same transformation.


As new technology enters the market, small business owners can struggle to keep up with the constantly changing payment options. In many cases, small businesses suffer under the financial burden related to credit card transaction fees. And, integrating expensive and complex technology that requires an overhaul of existing hardware and software can challenge an owner’s ability to keep their business viable.

In 2017, Nielsen reported that Millennials comprise almost 26 percent of the American population with Generation Z coming in a close second with 22 percent. Spending preferences of these two groups, also known as the tech generations, have forced financial institutions to revamp traditional services.

By necessity, many merchants exhibiting at local events rely on cash-based transactions. The electricity, internet access and equipment needed for credit or debit transactions are often hard to obtain or completely unavailable. Easy-to-use mobile processing options, such as Pay Pal and Google Pay, usually come with hefty processing fees that eat into vendor’s profits. Consequently, consumers are driven towards the nearest ATM. If the ATM happens to be in an inconvenient location or off-site, attendees may avoid visiting the ATM, not spend any money or leave the event altogether.

Whether it be local, regional or even a national brand, people are traditionally drawn to things they know. Consumers in the Millennial demographic (born between 1981-1996), however, have been steering away from large, corporate brands in favor of smaller, less recognizable companies. Known as the Reverse Branding Trend, younger consumers are less prone to promoting big companies with flashy logos and catchy slogans. 

According to studies from HSBC Bank and the Bureau of Economic Analysis, consumers are steadily spending more on experiences than stuff. While total discretionary spending has nearly doubled in the past 15 years, money spent on travel, eating out and recreation has far exceeded expenditure on household goods, cars and other physical items.

ATMs have been a traditional part of banking since the first ATM debuted in London 50 years ago. While a novelty at the time, the ATM launched into widespread use throughout the 1970’s and 1980’s as consumers became more comfortable with changing technologies and self-service.

A 2013 global survey of consumers by SSI reported 70 percent of consumers expect a self-service option from their financial institution. For the past few years, this trend has become more pervasive. Now, a majority of Millenials prefer to conduct routine transactions themselves, consulting employees only if more help or information is required, according to a study by Source Technologies...


It seems like only yesterday banks had to upgrade their ATMs to Windows 7. Yet here we are again on the verge of another major operating system (OS) update – just a short six years later. Microsoft has set the end-of-support date for Windows 7 for January 14, 2020. The...

Even under ideal conditions, the migration to a new operating system (OS) can be a prolonged process. With the end-of-life date for ATMs running Windows 7 quickly approaching, financial institutions (FIs) are being forced to amend migration strategies and budgets to ac...

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