Asia-Pacific ATM Industry Discloses the Rising Demand for Automated Systems
Big Market Reseach company explains the major driving factors for Asia-Pacific ATM Industry and its rising demand for automated systems and enhanced security standards.
In the current business scenario, there is a rising demand for flexible cash withdrawals, deposits, transfers and bank account inquiry operations among customers. Customers require quick and convenient services from financial institutions to save their time during financial transactions. Bank branch sites are not ideally the convenient locations for customers to access their financial transactions as they consume time and might not always be at an accessible location.
Therefore, banks select and deploy ATM machines by examining the locations where a large number of financial transactions would take place per day. Thus, to serve the customers more effectively and provide flexibility in performing financial transactions, ATMs are deployed onsite (bank branch site), offsite (away from bank branch site) and worksite (work places such as IT companies, government offices and others).
Major driving factors for the Asia-Pacific ATM industry are rising demand for automated systems, enhanced security standards, technological advancements and introduction of wireless communicating devices in regions like India, Singapore and Australia. On the other hand, rise in skimming activities of ATM cards and hacking of customers’ personal data and transactional information would act as a restraint for the market. Amongst the different types of ATMs’, the demand for Smart ATMs’ is expected to witness highest growth due to its capability to offer superior security and additional services such as cash back, transfers etc.
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