IT GRC Forum

Criminals often target cash machines, as well as various other automated kiosks that dispense DVDs, tickets, or other merchandise. They have discovered numerous techniques for compromising these devices. According to the ATM Industry Association (ATMIA), ATM fraud alone results in over a billion dollars in losses each year.

But manufacturers are fighting back.

Diebold, a security systems corporation and the largest ATM manufacturer in the US, has developed a prototype for a “virtualized ATM.” The new machines will utilize cloud technology to enhance security, mitigate fraud, and improve operational efficiency, delivering an optimal consumer experience.

Unlike traditional ATMs, these new machines will contain no onboard computer. Instead, each individual terminal will be connected to a single, central server, which will provide resources to a fleet of cloud-based ATMs.

This advancement will give banks and ATM operators greater control over multiple machines. Servicing the new ATMs will be easier and more efficient, with more updates and less downtime.

For consumers, the most noticeable differences will be better service and security. Over time, the savings in operating cost can be put toward upgrades in card technologies, near field communication, and possibly even biometrics.

The emergence of cloud technologies will speed up the adoption of many new, more convenient and streamlined offerings. The future is here, and it’s fun!

Robert Siciliano, personal security expert contributor to Just Ask Gemalto.