Technology company Belltech is evaluating a project to install multimedia ATMs in Chile for a major local bank, a company executive told BNamericas.
Belltech's manager for electronic channels in Chile, Mario Bravo, said the future of ATMs will be in more easy-to-use integration of hardware and software.
"Biometric technologies, such as fingerprint, is a very strong new area in ATMs and will continue to grow. However, the problem with biometrics is high rejection rates, which are at present about 15-20% [of the transactions]," he said. "They therefore need to be complemented by other technologies."
Bravo's vision of the new generation of ATMs envisions features such as adjustable, large flat screens, live advertisement and options for live customer service, as well as more advanced personal recognition and security attributes.
These multimedia ATMs are part of the wider shift toward self-service in financial services and retail, Bravo said, adding that firms are pursuing this to cut down transaction costs to gain a competitive edge.
Belltech has been present in Chile's ATM business for six years and has about 20% of the market in terms of installed machines, according to the company.
The firm pioneered in Chile self-service machines that allow instant cashing of deposited checks.