Altron Bytes MS announces partnership with Renovite Technologies
to help ‘evolutionise’ the current ATM environment
Altron Bytes MS has always been in the business of selling technology and services as tailored solutions that help customers meet their business objectives.
A new and exciting partnership with Renovite Technologies, well-known for providing innovative payments software solutions, means that Altron Bytes MS can offer financial institutions a way to bring outdated ATM services trapped in 20th-century architecture and operating models dominated by limiting and dated software, an effective and flexible cloud-ready ATM management platform in the form of Reno-ATM.
Designed to be ATM operating system agnostic, Reno-ATM breaks the shackles currently restraining ATM services by providing a range of services that help satisfy modern demands and deliver a full customer experience.
It’s a known fact that the current ATM industry is bogged down in the maintenance of legacy systems predicated on 20th century architectures that were fit for purpose when they were laid down in a pre-internet, pre-mobile, pre-online banking era. Architectures that depended on expensive, proprietary hardware platforms to deliver the reliability, scalability and availability that the world now takes for granted. They provided platforms for service delivery for organisations in markets where often the competitive dynamic hadn’t changed much for years. Not many new banks emerged each year, and new ATM deployers or transaction processors faced a really high barrier to entry in the cost of systems. The evidence of the last decade is that those barriers to entry have been eroded and new competition to established providers of payments services are emerging constantly. For established organisations to compete against these new entrants and satisfy the expectations of ever more tech-savvy consumers, they need modern, flexible platforms – not re-packaged 1980s/90s architectural models.
There are several reasons why the ATM channel has fallen behind consumer expectations. For one, despite the software innovations, the ATM client software remains proprietary and the ATM deployers remain dependent on the vendors to implement changes, apart from limited configuration tweaks. This lack of deployer freedom is often accompanied by significant cost and timescale challenges that discourage active innovation. Additionally, consumer expectations have changed significantly. Many service industries have strongly embraced the continued evolution of the Internet and Smartphones to provide greater service openness and responsiveness. By contrast, the ATM channel is predominantly still a card-centric, cash access device and increasingly isolated from digital banking strategies.
So, what’s the solution? Most definitely, new architecture that will help empower the consumer experience. Specifically, this architecture needs to fully leverage the latest in cloud innovations as well as the mobile device as a means for consumers to interact with the ATM. It also needs to provide tighter integration with the various financial services systems to allow for a more seamless banking experience for the consumer that delivers new account and payment services alongside the cash-centric services available today. New features like the deployment of AI and machine learning to detect abnormal interactions, whether the interactions are between the consumer and the ATM, or even between subsystems within the ATM channel itself, are also called for. Which is very much where Reno-ATM comes in as a next-gen solution for the ATM channel…
Reno-ATM integrates easily into existing infrastructures and is readily configured to accommodate established business processes. With Reno-ATM you can extend the lifecycle of existing self-service devices; control the migration of legacy ATMs to help eliminate any business disruption; experience a sustained and cost-effective transformation of your payments infrastructure that outpaces changing needs; enjoy an unrestricted choice in self-service hardware; rapidly create unique, innovative and tailored services; optimize branch services using advanced assisted self-service and extended hours; deliver intelligently personalised customer value with bespoke customer features, including branding, themes, targeted marketing, favourite and card-less transactions – all for a seamless multichannel banking experience. What’s more, you can count on experienced deployment and process transformation assistance.
With Reno-ATM you can easily implement new feature-rich transactions and quickly change existing transactions without modifying code. You can even update screen content without restarting, while robust automated end-to-end testing catches even the smallest of ripples before they can become business problems. Furthermore, Reno-ATM supports the latest interoperability standards, ensuring compatibility with third-party products.
Compliance, security and legislative changes are easily managed as the system is controlled centrally and changes are downloaded, as opposed to requiring lengthy re-installation of the software stack. A common base installation allows a speedy software load where required with further current updates being downloaded based on relevance.
Reno-ATM operates on a continuous integration model to accelerate the availability of new features. It can be configured and/or customised to communicate with non-traditional switching and host systems, thereby giving banks more flexibility. There are no more ties to one authorising system and you can leverage off the digital environment and web-based service architectures to provide adjunct services and transactions. Consequently, updates, changes and installations become much easier, removing both the strain from management and operations, as well as the reliance on mainstream costly operating system updates. This simplification enables the institution’s resources to concentrate on value-add functions, while the business gains from a more effective operating model, resulting in cost savings overall.
As the forerunner in the local ATM industry, it makes total sense for Altron Bytes MS to bring this innovate and effective ATM management platform to market. Not only is it reliable, flexible, efficient, secure, modular and cost-effective, it also comes wrapped by Altron Bytes MS’ professional managed services model.
For more information:
Riaz Wadee | Presales | Riaz.Wadee@bytes.co.za
Altron Bytes Managed Solutions
1 Vlak Street, Selby, Ext 5, Johannesburg
Tel: +27 (11) 373 4000 I www.bytesms.co.za