An ATM monitoring software involves the complete solution to monitor and manage ATMs. It helps independent ATM deployers and financial institutions to actively manage the multi-dealer ATM fleet by delivering SLA monitoring tools and real-time monitoring dashboards in order to maximize the business goals of higher availability, customer satisfaction, and operational efficiency.
The ATM monitoring software proactively recognizes faults, manages risk, optimizes IT costs, improves the quality of services, and provides transparency for monitoring systems infrastructure. The ATM monitoring software Market helps track the terminal health in real-time, based on feed received from the remote or switch agents installed on the ATM terminals.
The ATM monitoring software uses projecting algorithms and a range of parameters, including services days, seasonal demand patterns, withdrawal patterns, denomination and currency status, and minimal residual cash percentages, thereby helping the bank to simplify cash management.
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The ATM monitoring software uses a built-in inventory control module that provides real-time information on terminals as well as the hardware configuration and any other business software, such as anti-virus systems, to streamline terminals updates
ATM Monitoring Software Market: Dynamics
ATM Monitoring Software Market: Key Drivers
- ATM monitoring software offers banks a centralized view of distrustful events across the ATM networks. The software monitors rule-based framework flags, suspect transactions through various dimensions such as BIN range, merchant type, transaction type, customer type, terminal id as well as transaction velocity and volume, with automatic alerts being activated when transactions do not match the pattern of the corresponding customer or critical threshold or terminal is breached.
- The software provides a business and service-oriented performance view and can be customized to address senior management needs as well as cater to the ATM operations team
- The ATM monitoring software helps deliver maximum protection and the highest standards of security with file decryption and encryption using dynamic DES and PKI, while transmitting and receiving data through a secure socket connection
- Increase in adoption of cloud-based software services and support software is expected to create considerable opportunities for solution providers in the ATM monitoring software market
Impact of COVID-19 on ATM Monitoring Software Market
- The banking sector is witnessing a decline in investment in advanced software and system solutions in order to maintain their revenues during the COVID-19 pandemic. The banking sector has withheld all investments in advanced business solutions and tools due to the low return on investment.
North America to Hold Major Share of Global ATM Monitoring Software Market
- In terms of region, the global ATM monitoring software market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global ATM monitoring software market in 2020. The U.S. is a key market in the adoption of new technologies. Strong financial position enables the country to invest heavily in the adoption of leading tools and technologies to ensure business operations.
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Key Players Operating in Global ATM Monitoring Software Market
- Intel Corporation
Intel Corporation specializes in the design and manufacture of integrated processors, platforms, chipsets, circuits, and software solutions, such as Intel Security and embedded software. The company offers a wide range of products such as desktops, tablets, SSDs, boards & kits, server products, Intel gateways, modems, and radiofrequency transceivers. It also provides solutions for embedded applications for healthcare, automotive, energy, and retail market segments.
- Cisco Systems, Inc.
Cisco Systems, Inc. is a leading global company that offers IT infrastructure, services, and solutions. It also provides Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The company works in professional, communication, and media solutions. It provides Internet-of-Things (IoT) & mobility solutions and networking & security solutions, including wired and wireless products.
Other key players operating in the ATM monitoring software market include Huawei Technologies Co., Ltd., Texas Instruments Incorporated, NXP Semiconductors, TE Connectivity Ltd, Hewlett Packard Enterprise Co., Microchip Technology Inc., Dell Technologies, Aaeon Technology Inc., Nexcom International Co., Ltd., Helium Systems, Inc., STMicroelectronics N.V., Adlink Technology Inc., and Eurotech S.P.A.