05 September 2015

Diebold and Wincor Nixdorf create ATM security association

08 July 2014  |  6435 views  |  0 ATM user

Cash machine manufacturers Diebold and Wincor Nixdorf have joined forces to found an association that will work to improve ATM security.

Despite regular pronouncements on the imminent demise of cash, the number of ATMs worldwide is set to increase from 2.6 million to 3.7 million in 2018, according to Retail Banking Research. Given this, it is "plausible" that related criminal activity will also be on the rise, say Diebold and Wincor.

The partners are inviting banks and their fellow manufacturers and IT suppliers to join them in tackling the threat by improving industry communication and information sharing.

More concrete measures are also envisioned, including the creation of industry-wide norms in the form of agreed technical standards for secure ATMs and ATM components.

The association will be implemented under Dutch law and offer members a protected and secure register of detailed information on recognised attack scenarios and potential threats, along with recommendations on how members can prevent and deal with them.

Diebold and Wincor argue that this approach will particularly benefit banks whose networks include ATMs from different manufacturers, making the task of coordinating the introduction of new security much easier.

Andy Mattes, president and CEO, Diebold, says: "Today's announcement represents the first step in an industry-wide effort intended to help ensure the ATM remains a safe, secure option for consumers to confidently conduct any financial transaction they choose - now and well into the future."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

13 June, 2014
08 April, 2014
03 April, 2014
15 January, 2014
04 December, 2013
23 October, 2013
01 May, 2013
24 January, 2013
17 April, 2012
09 November, 2011

Related company news

 

Who is commenting?

Finextra Member Commented on: HSBC to rebrand Britsh...
Finextra Member Commented on: Zapp to use behavioura...

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
8582 views comments | 40 tweets | 15 linkedin
PayPal rolls out personalised URLs for P2P...
5888 views comments | 34 tweets | 19 linkedin
UK boosts contactless limit to £30
5884 views comments | 31 tweets | 20 linkedin
Behold the contactless jacket
5707 views comments | 23 tweets | 18 linkedin
MasterCard extends startup search globally
5493 views comments | 14 tweets | 6 linkedin

Featured job

£100,000 basic, £180,000 OTE + Benefits
London

Find your next job