The next-gen API app model for ATMs was launched by ATM Industry Association. The model was developed for an industry whose installed base comprises more than 3.2 million ATMs around the world. According to ATM Industry Association, more than 180 global ATM companies participated in the development of the next-gen model. Next-gen ATMs will enable consumers to transact at ATMs for cash and value-added services via their mobile devices.
Customer preferences vary widely in the current BFSI market scenario. Next-gen ATMs help banks and financial institutions to customize, personalize, and add more value to their services for customers. Next-gen ATMs help banks to provide value-added ATM services with best security practices.
South America and Asia Pacific which are fast growing regions, face strong technological and digital gaps within the BFSI industry. The level of awareness among small and medium financial institutions is comparatively low in countries such as Indonesia, Vietnam, Paraguay, and other countries. Network infrastructure and the minimum requirement to smoothly run next-gen ATMs at remote locations is not very effective in these regions. Unawareness about next-gen ATMs and poor network infrastructure is thus hampering the growth of the market.
In terms of region, the global next-gen ATM market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the next-gen ATM market during the forecast period due to strong adoption of new BFSI technology within the region.
The COVID-19 pandemic is expected to moderately impact the global next-gen ATM market for a short-term period. The level of investment with regards to next-gen ATMs in BFSI has reduced due to the lockdown in almost every region, as it requires major capital investment. COVID-19 is expected to impact this market till the year end 2020.
NCR Corporation is headquartered in Atlanta, Georgia, U.S. It has nearly 34,000 employees across the globe and provides business software and services in 180 countries. NCR Corporation is a leading software- and services-led enterprise provider in the financial, retail, hospitality, telecom, and technology industries.
The global next-gen ATM market can be segmented based on:
Based on component, the global next-gen ATM market can be divided into:
In terms of ATM type, the global next-gen ATM market can be segregated into:
Interested in this report?
Get a FREE Brochure now!
*Get Brochure (PDF) sent to your email within minutes
Complete the form below and we'll get back to you shortly.