TRUSTHECH 2016 #10 (250) 2016 ATMs — When considering innovation in the financial services market, there is a tendency to be blindsided by all things mobile: from banking apps to payment wallets, the device generates and draws a lot of attention. <...> However, innovation isn’t exclusively tied to new technologies; some of the best examples of innovation at work are born out of enhancing and adapting the technology behind products and channels that are already well established. <...> The ATM is a well-established banking channel for consumers across the globe. <...> As such, this self-service cash-dispenser has evolved to offer much more than the cash withdrawal service they were initially created for. <...> According to RBR (Retail Banking Research), the global installed base of ATMs is expected to exceed four million by 2020, an increase of 37% from 2014. <...> Whilst many see this growth as driven by the strong demand for cash worldwide, ATM innovation has led to a complete overhaul of self-service banking that encourages users to perform a range of functions, including electronic payments and transfers. <...> For example, the need to dispense precious metals via an ATM in areas of the Middle East, or floating ATMs (on boats) to reach the populace in Indonesia. <...> However, in countries with innovating with traditional channels for the person at the ATM to receive the money. <...> When it comes to innovation by geography, however, Compass Plus doesn’t need to look far from home. <...> Earlier this year, Russia was ranked 12th in the world for innovation, according to a new innovation index compiled by Bloomberg — and this title is certainly deserved in terms of ATMs, to which these brief examples from our customers can attest. <...> Contactless campus cards By Alexey Osipov EVP and MEA Managing Director, Compass Plus more mature markets, ATM innovation has become increasingly stagnant, with large FIs sticking to traditional ATM services such as withdrawing cash, checking balances and mobile top-up, rather than using the machine as a differentiator. <...> Compass Plus has many customers across the globe implementing innovative ATM scenarios. <...> For example, one of the largest banking groups in the Middle East which offers the ability to repay loans and credit cards at the ATM, instead of having to go in-branch. <...> Another great example is the cash-bycode <...>