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M2M technology is a powerful force that has already begun to dominate the world’s technology, and it is predicted to grow even farther than it already has.
With M2M or machine to machine technology, all sorts of different devices are able to send data back and forth to one another using sensors and the appropriate type of software. In the case of automated teller machines or ATMs, this can be a powerful tool in preventing theft and keeping careful track of usage patterns.
The Internet of Things has become a powerful resource for reporting usage patterns. In an age where everything is thoroughly quantified on a moment by moment basis, ATMs can transmit how much cash is moved through them and at what times of the day so that their service schedules can be adjusted accordingly. In the same vein, ATMs can report both to each other and to their ownership when there is an issue involving usage. A repair person can be dispatched as soon as the machine “eats” someone’s card, instead of the next day when the person comes back to report this issue. Being able to quantify usage can also help with redesigning the hours of bank branches to accommodate when the bank’s customers are actually visiting.
Theft is a major problem at ATMs, and a camera alone is not enough to stop much of this theft. Whether recording and transmitting the face of an assailant that can be recognized immediately and used for notifying the police or simply recording a license plate number, make and model of automobile used as part of a theft, when M2M technology is integrated into ATMs they may be able to “warn” one another of when a thief is about to strike. In the case of physical threats this can be useful, but its maximum effectiveness may come from the detection and prevention of further frauds perpetrated by fraudsters.
Cash is an important part of ATMs, as this is the primary reason why people visit these machines. When M2M technology comes into play, every ATM can know the exact amounts of money stored in, deposited into and withdrawn from every other ATM within a network. This can produce cash movements that follow usage patterns and keep every machine properly stocked.
M2M technology is taking the world by storm. Even ATMs can benefit from this.
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