ATMs

ATM jackpotting is a growing threat throughout the United States, with thieves attempting to attack the most vulnerable locations possible, according to Paul Albright, executive vice president of Outsource ATM.

A heist in India appears to be the very thing U.S. law enforcement had foretold. But banks shouldn't let their guard down, because cybercrooks have raised raids on cash machines to an art form.

No outrage over more Wells disclosures; Steve Calk accused of conspiring with Manafort against his own bank; FBI warns banks about threat to ATMs; and more from this week's most-read stories.

After warnings of an impending major ATM cash-out had bank security teams working overtime last weekend, crooks made off with over $13 million over the weekend in a double attack on India’s venerable Cosmos bank.

Thieves stole more than $13 million from an Indian bank just days after an FBI warning; Fed’s special oversight restrictions from 2015 lifted.

Banks and credit unions — especially smaller ones — are being told to brace themselves for a wave of ATM raids by cybercrooks. Industry officials are uncertain what information the red alert is based on, but experts say swift, sophisticated thefts are very doable.

Banks — especially smaller ones — are being told to brace themselves for a wave of ATM raids by cybercrooks. Industry officials are uncertain what information the red alert is based on, but experts say swift, sophisticated thefts are very doable.

For NCR and Diebold Nixdorf's leadership, spotting the fintechs nipping at its heels is the easy part. Charting a path as a half-century old market changes into something entirely new will be much harder.

While U.S. machines migrate to EMV, there's a mix of physical security and software that can mitigate the mounting security risk, according to Mark D. Smith, director of business development for MVP Financial Equipment.

SunTrust will operate a branch inside Hartsfield-Jackson's main domestic terminal and operate 16 ATMs throughout the airport. Wells said its revenue had been declining.

Rising technology expense and security challenges will require institutions and ATM operators to get more creative in managing resources, such as finding new uses for discarded machines, according to Mark D. Smith, director of business development for MVP Financial Equipment.

Mastercard's Cardless ATM service, developed with Diebold Nixdorf, resembles the technology many banks have adopted in the last few years — but Mastercard's offering sheds the limitation of being tied to a specific bank's ATMs.

Millennials view the ATM as central to how they manage their money and go about their daily lives, writes Yonas Marcos, president and CEO of Star Financial Services.

January 14, 2020 seems like a long way away. But there are less than two years before the Windows 7 cut-off date hits; and time flies when it comes to ATM upgrades, writes Paul Albright, executive vice president of Outsource ATM.

Refurbishing ATMs to accommodate mobile payments is less expensive than buying new ones, and is a solid green strategy, according to Mark D. Smith, director of business development for MVP Financial Equipment.

ATMs require dual-factor authentication in the form of a physical card and a PIN, and this same concept should be extended to phone transactions, writes Patrick Cox, CEO of TRUSTID.

Longtime payments industry executive Kim Crawford Goodman has been named president of card services at Fiserv, where she will oversee the payments and ATM services, including credit and debit processing.

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

Community banks are slowly warming up to the pricey technology to reduce their reliance on branches, speed up transactions and provide convenience for customers.