21 July 2017
visit www.finastra.com

Switzerland begins move to common ATM standard

16 May 2017  |  7326 views  |  0 atm inserting card

Banks across Switzerland are developing a standard operating system for all ATMs in the country, providing consumers with a common user interface and new capabilities for cardless transactions.

The multivendor software platform, dubbed ATMFutura, has been developed by payments processor SIX on behalf of the country's banks in an effort to provide a consistent user experience at the cash machine.

SIX says the common standard - which will replace up to 20 different slef-service options from four different manufacturers - will improve reliability and save costs in a field in which it is no longer possible for the banks to differentiate themselves.

New functions that until today have only worked at individual banks will be possible with ATMfutura across the entire bank ATM network, says SIX. These include cash withdrawals and deposits at the ATM using the QR code via smartphone; the free selection of accounts when making cash withdrawals; talking ATMs for the visually impaired, and the choice of individual bank note denominations.

The first cash dispenser equipped with the new software has gone into pilot operation at a Credit Suisse branch in Zurich. The next step will entail a switchover of machines combining deposit/withdrawal functions, enabling users to make deposits into selected accounts, including those demoniated in euros.

UBS will be the second bank to enter the new ATM into pilot operation, according to a different time frame.

Florence Schnydrig Moser, head of products & investment services, at Credit Suisse comments: "Thanks to the standard user interface, all customers will have a consistent and enjoyable user experience at every ATM, irrespective of which bank it is being operated by."

She says that in the future, ATMFutura will also relieve banks of the burden of monitoring and managing their machines, providing a centralised outsourced function covering the complete value chain, from evaluating locations, installing, maintaining and disposing of ATMs, and refilling them with cash.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

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

Related stories

Switzerland prepares for mass-market migration to ISO 20022 standard

Switzerland prepares for mass-market migration to ISO 20022 standard

30 March 2017  |  8746 views  |  1 comments | 12 tweets | 25 linkedin
SIX and IBM to build Watson-powered cyber-security hub

SIX and IBM to build Watson-powered cyber-security hub

24 March 2017  |  8194 views  |  0 comments | 16 tweets | 13 linkedin
SIX issues mobile credit card in Austria

SIX issues mobile credit card in Austria

03 February 2017  |  6071 views  |  0 comments | 7 tweets | 12 linkedin
SIX bids to build centre of gravity for Swiss startups

SIX bids to build centre of gravity for Swiss startups

06 October 2016  |  3557 views  |  0 comments | 2 tweets
SIX, UBS and Zurcher Kantonal Bank to launch P2P  payments app

SIX, UBS and Zurcher Kantonal Bank to launch P2P payments app

28 April 2015  |  9405 views  |  0 comments | 11 tweets | 13 linkedin

Related company news

 

Related company information

Credit Suisse

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit vasco.com/news/PSD2-compliant-solutionsvisit www.www.fisglobal.com

Top payments topics

Most viewed Most shared
EPC gears up for pan-European instant paymentsEPC gears up for pan-European instant paym...
9784 views comments | 10 tweets | 28 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
8628 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
7808 views comments | 16 tweets | 12 linkedin
The next generation of virtual accountsThe next generation of virtual accounts
6522 views comments | 2 tweets | 8 linkedin
Managing the fraud risk of frictionless paymentsManaging the fraud risk of frictionless pa...
5771 views comments | 3 tweets | 4 linkedin

Featured job

Competitive
Frankfurt, Germany or CEE Region

Find your next job