What’s the future of the ATM industry?

Consumers are paying less frequently with cash and credit cards but still want to see more ATMs deployed, according to the sixth edition of the ATM Future Trends report, which is now available.

Those are just a few of the findings from the biennial report, which included a survey of more than 300 consumers in the U.S. and 200 stakeholders representing every aspect of the ATM industry.

The 43-page report also includes information to help retailers and financial institutions set goals and strategies for their ATM channel or businesses.

In addition to an overview of the state of the industry, the report discusses how the upgrade to Windows 10 is effecting the industry. By January 2020, financial institutions that have upgraded operating systems risk running ATMs on an unsecured platform.

The upgrade comes at no small cost and could result in a reduction in the total number of ATMs deployed. In some cases it may not be worth the expense to upgrade older machines, according to the report.

Aravinda Korala, CEO of ATM software company Kal, said in the report that deployers of older ATMs could save money by not having to upgrade motherboards during an operating system upgrade. He believes the costs of upgrading will continue to increase.

“Looking ahead, things could get even worse for the industry as the new strategy for Windows is to increase the frequency of OS upgrades and enhancements,” he said in the report.

The report includes industry insights from other ATM thought leaders as well.

ATMs will become the banks of the future as more branches close, said Bill Versen, chief product officer at Transaction Network Services, in the report. He believes ATMs will adopt biometric identifiers like fingerprint and facial recognition to enable cardless usage. They’ll also include “services as diverse as applying for loans, buying lottery tickets and dispensing foreign currency,” he said.