We’re here at Money20/20 Europe, an event full of companies and individuals looking to disrupt and challenge the way consumers and businesses manage, spend and borrow money.
Personally, I’ve seen some intriguing regional trends and technology on display.
While there is a very diverse crowd of technologists, innovators and business experts from various industries including financial services, retail and payments, there is one common thread that ties us all together: the challenge of building meaningful connections with consumers. As we talk delivery channels, digital payments and disruption, I think it’s important to make sure that we don’t lose sight of the fact that consumers don’t think in channels.
As I peruse the show floor, I’m thinking about how each innovation ties back to our FITbanking™ philosophy, and whether the technology is making a meaningful step toward creating a channel-less experience for consumers.
Serving the Channel-less Consumer
We believe if consumers don’t think in channels, companies shouldn’t either. Today’s consumer experience transcends cross-channel or omnichannel. While a traditional omnichannel strategy focuses on technical applications, driven by the desire to meaningfully orchestrate a consumer’s experience across all touch points and connect siloed infrastructure, channel-less experiences look at this omnichannel experience as the sum of a whole.
We look at the whole pie – not just the pieces – so we can develop solutions that create the best user experience when delivering transactions that transcend delivery channels.
Because Money20/20 attracts organizations of every size, in every market, looking to differentiate themselves in today’s evolving payments ecosystem, there is no better venue to discuss today’s channel-less consumers and the innovations that can exceed consumer expectations.
A New Mobile-Enabled ATM Concept for a New Kind of Consumer
Our latest iteration of our mobile-enabled ATM concept speaks the language of today’s tech-savvy consumers. Today, there are higher contactless adoption rates in Europe than the U.S., so we were excited to showcase a mobile-enabled ATM concept, in a European setting and see what kind of feedback the market has to offer.
This mobile-driven ATM concept was built on the intelligence and feedback we received from our Responsive Banking Concept. Since then, we have added capabilities that meet additional needs for financial and retail applications.
This “bring your own device” (BYOD) concept connects self-service channels and enables currency deposits or withdrawals on a self-service terminal at faster speeds.
While consumers can conduct most transactions via a mobile device, there are two transactions that require a consumer to use a physical self-service device — cash withdrawals and cash deposits. The mobile-enabled ATM concept fills this gap between mobile payments and cash by conducting most of the transaction on a mobile device, with just the final step – cash withdrawal or deposit – completed at the terminal. We’re providing mobile-first consumers with the ability to bank the way they prefer to – all the way up to the physical act of receiving their cash.
There is also a huge potential use case in regions such as Asia Pacific, with strong usage of mobile and consumers who take cash out in the mornings and put cash in during the evening so they can gain interest overnight.
Despite the addition of a single-slot cash and check acceptor, our newest rendition of our mobile-enabled ATM concept retains its small footprint, NFC capabilities and the biometric components that made this concept so popular when it was unveiled.
More Innovations Showcased in Copenhagen
In addition to our new concept, we’re showcasing a secure mobile payments offering. XPRESSION™ SafeLoad combines the inherent “card present” authentication of the ATM channel with the ease of use of mobile applications. Designed in collaboration with SimplyTapp, XPRESSION SafeLoad provides a secure mobile solution that works at POS terminals and ATMs. Using our highly unique card onboarding process, XPRESSION SafeLoad is a hardware-agnostic software solution that reduces fraud by using the inherently secure architecture of the ATM network to onboard the user’s card through the use of standard card-present, PIN-secured technology.
We’re also demoing CryptoTouch®, a secure touchscreen for PIN entry. Ideal for financial services or the retail space, CryptoTouch provides a secure touch entry through a combination of logical and physical security measures and removes the need for a PIN Pad in the design of the ATM or other payment terminal. In addition, this PCI approved PIN entry reduces maintenance on the terminal and exceeds international security standards.
At Money20/20 Europe? Stop by Hall C3, Booth #F18
At Diebold, we envision a future in which technology is an invisible but indispensable engine for creating and nurturing greater, stronger, more durable and more lasting connections with consumers. Channels are becoming intimately intertwined to create a channel-less approach, and it’s a shift that can enable you to build a new kind of relationship with consumers, one that FITs the sum of all small and large transactions. It’s an approach that maintains an emphasis on technology, but leverages it for Fully Integrated and Transformative (FIT)banking experiences.
We’re fully integrating and transforming the physical and digital worlds of currency. And it’s something we’d like to help you achieve too.
As the entire payments, financial services and retail worlds converge in Copenhagen, I am taking it all in – like a real channel-less consumer should.
Attending Money20/20 Europe? Stop by Booth #F18 to discuss channel-less consumers, mobile integration and more. And be sure to ask for a demo of our new mobile-enabled ATM concept and CryptoTouch.
Let’s create seamless, channel-less consumer experiences. Connect with us virtually to start a conversation and discuss next steps.