Security, bitcoin ATMs, banking trends claim top spots in 2022

In 2022, readers revealed a wide variety of interests ranging from how to purchase a bitcoin ATM to how to handle ATM security and other topics.

As part of our annual tradition, we wanted to call attention to the articles on ATM Marketplace that readers found the most helpful. Here are the top five most read articles of 2022.

5. Buying a bitcoin ATM: Advice from an insider

Jon Weilbaker, general manager, New York ATM, knows ATMs. He knows which ones are a good fit for his customers and which ones are not. But as the pandemic hit and the sale and service of ATMs came to an almost a standstill, as general manager of New York ATM, Weilbaker began researching different ideas to keep his business on track. That research led him in a new direction: bitcoin ATMs.

"I am intrigued by the [bitcoin ATM] business and met several of the big players at the ATMIA conference last February in Houston. And once the pandemic hit hard in March and April, none of my customers were buying new stores and no one wanted to talk ATMs, so I began looking at bitcoin ATMs. Plus, I hate walking into a store and seeing someone else's Bitcoin ATM right next to my cash ATM. I want to be the guy who controls all the cash products for all my customers," Weilbaker said.

Weilbaker began researching to determine what bitcoin ATMs covers in the payment system that cash ATMs don't. After much research, Weilbaker purchased bitcoin ATMs and hoped the gamble would pay off as the pandemic continued to sweep the country. Apparently, it has.

4. It's time to rethink how we manage the cost of cash

According to the global research firm McKinsey & Company, the cost of cash — which represents 5–10% of a bank's overall operating cost — is rising, even as the use of cash is declining. "It's time to rethink how we manage the cost of cash," said Chris Chandler, CEO at Toronto-based Access Cash General Partnership.

3. ATMs make travel easy with currency exchange tools

Travel in the age of COVID-19 has become more difficult than ever. With COVID-19 tests, screenings, masking and travel restrictions, there are many things to deal with.

With all these issues, customers don't need to deal with any more problems, like finding places to exchange their currency for foreign currency. Travelex, a foreign exchange company, is attempting to make travel easier for customers through their foreign exchange ATMs. With these devices, customers can withdraw multiple currencies using their bank card.

The company recently opened two locations in Amsterdam Airport Schiphol, which offer more self-service and contactless solutions that can allow customers to get the help they need without necessarily having to interact with an employee.

2. Examining future banking trends

Banking is going through a period of evolution right now, as banks have to adjust to new realities both from the pandemic and changing customer expectations. As a result, banks have had to take a hard look at all of their strategies, such as how they utilize their branches, whether to use ATMs or ITMs and how to meet customer expectations regarding transaction speed.

While it may seem uncertain where banking is headed, we can make predictions based on what happened in banking last year

ATM Marketplace spoke with Sue Laws, EVP of operations in the Americas, Temenos, a banking software company, to get her predictions on where banks are headed in the next couple of years.

1. What are the biggest ATM security issues

A quick Google search will reveal a slew of articles about thieves breaking into or stealing ATMs from locations ranging from exterior bank walls to shopping malls. Criminals use tools ranging from trucks to construction equipment to tear ATMs apart and then later access the cash within.

However, physical threats are not the only security concerns for ATMs. Outdated key standards and card skimming are also major issues in the ATM industry. Here's a closer look at some of these security issues and what causes them.