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Diebold Nixdorf is a name that barely needs any introduction. But just in case any of you have not heard name of this company then it is a multinational financial and retail technology giant that specializes in the sale and manufacture of self-service transaction systems such as ATMs and currency processing system. So the next time if you withdraw cash from any of your nearby ATMs then chances are pretty high that Diebold Nixdorf manufactured the machine. And just to roundup Diebold Nixdorf’s domination in the global ATM market then today it is the largest manufacturer and supplier of ATMs in the world with the largest number of ATMs deployed – making it a dominant player in the US and other key markets of the world.
Diebold Nixdorf is essentially a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently.
Today Diebold Nixdorf has presence in more than 130 countries with approximately 23,000 employees worldwide. Today it is a strategic partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers.
Techpluto caught up with Aditya Shankar, Head- Software Solution Sales (India) at Diebold Nixdorf, in an exclusive interview. In this special interview, Aditya Shankar sheds light on Diebold Nixdorf’s latest offering Vynamic Software and some of the recent trending technologies dominating the ATM technology.
Q1) Can you please shed some light on Diebold Nixdorf’ latest offering Vynamic Software?
Today’s world is more digital, more connected. Diebold Nixdorf’s Vynamic software is taking this ahead by enabling Banks /FIs to connect their customers individual personal experiences to the wide payments ecosystem across the country and the globe!
Diebold Nixdorf’s Vynamic software suite goes beyond omnichannel and uses insight and personalization to turn transactions into meaningful connections. It automates, digitizes and transforms the way people bank and shop.
Diebold Nixdorf’s integrated solutions connect digital and physical channels conveniently, securely and efficiently for millions of consumers every day.
As an innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an ‘always on’ and changing consumer landscape. The company has a presence in more than 130 countries with approximately 23,000 employees worldwide.
Q2) How challenging is it to develop world class ATM software amid all the digital transformation that is currently sweeping India’s banking & financial world?
We do not consider it as a challenge, it is in fact our strength. We understand our customers better since we have been working closely with some of the world’s top Banks and FIs for many years now. Our experience ranges from digital enablement, branch transformation, ATM, ATM software and the end consumer behaviour around those channels. This has helped Diebold Nixdorf find the right solutions.
ATMs are currently in an interesting phase of evolution in the payments technology. This is due to the growing trend in both the cash transactions as well as digital transactions (Mobile, POS, etc). They are bridging the gap between the cash and digital worlds by enabling mobile-based transactions, QR-code based/ OTP based transactions on ATMs, they are also being upgraded to support NFC transactions.
ATMs today are also being upgraded by the Financial Institutions into a point-of-presence and point-of-sale by upgrading the device software. This helps them to transform these devices into intelligent machines that personalises customer interactions. They also are now capable of accepting real-time feedback from customers and extend various offers to them etc.
Customers are empowered today and can perform multi-channel transactions seamlessly (ATM/ Internet/ Mobile).
Q3) What are some of the latest trends and innovations in ATM technology?
ATM softwares today enables the bridging between the digital and physical channels and are seamlessly integrated with the internet, mobile, branches through the use of API integrations and data sharing. The latest ATM softwares enables customers to personalise their interactions with ATMs and also enhances the offerings to customers by intelligently using data analytics.
Some latest innovations seen in the ATM technology are:
– They are now equipped with biometric readers for biometric based transactions.
– They are equipped with smart card readers.
– They are also capable of dispensing coupons to customers.
– ATMs are also upgraded with NFC readers for cash-less NFC based transactions.
Innovative software running ATMs enable Financial Institutions to change the look and feel of ATMs as per location or customer segmentation and identify as well as greet customers and in doing so are personalising their transactions to enhance the customer service.
Q4) Do you think that cutting edge technologies like artificial intelligence, machine learning and IOT will play a key role in the quest to maintain your domination in the ATM industry?
Yes it has a great role not just for ATMs but for all channels, be it digital, branches etc. It’s important to know your consumer behaviour and their preferences to better serve them proactively. Solutions have to be based on analytics that have the capability to learn continuously and refine the metrics and information systems.
Q5) There are a lot of talks that cashless payment boom in China and India may spell trouble for the ATM industry. Do you think that these concerns are completely misplaced?
From an India perspective, all payment channels show a positive trend , be it ATMs, mobile or POS. This has been possible largely due to the Jan Dhan Yojana, with addition of a high number of unbanked population of the country into the banked category; cards are also being issued to those customers, government and other benefits getting transferred directly into such accounts. This is directly correlating to increase in the volume of transactions as is clearly evident from RBI data across the multiple channels and hence all channels are complementing each other.
Q6) Your opinion about card-less transactions and how safe are they?
Cardless transactions enables a customer to save time by pre-staging his/ her transaction on mobile and are safe as it also ensures that the customer’s plastic card is safe.
The financial institutions are continuously investing in the security threat perception/ analyses of the same and hence mobile banking transactions are safe today.
