Automatic teller machine, also known as ATM, is the abbreviation of Automatic Teller Machine, meaning ATM, because most of it is used for withdrawals, also known as ATM. It is a highly precise mechanical and electrical integration device, using magnetic code card or smart card to realize the self-service of financial transactions, instead of the work of the bank counter personnel. It can extract cash, check the balance of deposit, carry out funds transfer between accounts, check the balance and other work, and can also carry out cash deposit (real time entry), check deposit (domestic no), bankbook supplement, intermediary business and so on. Card holders can use credit cards or savings cards, according to the password for automatic withdrawals, inquiry balance, transfer, cash deposits, passbooks to fill up, the purchase of funds, change the password, pay phone fees and other services.
Analysis on the development trend of ATM industry in China
Centralization, standardization of management trend and cost reduction.By establishing ATM management center, foreign commercial banks carry out centralized and unified management of human property and network related to ATM. In the business process, the ATM management of foreign advanced commercial banks through the ISO9000 international quality standard system certification, in the system construction, business operation, risk control, performance assessment is very standard. But most of the domestic banks lack the perfect ATM management system, the business process is made by the branch, and the operation of ATM is not standardized; the ATM management means is relatively backward, and it stays in the manual management stage, and does not form an effective risk control system. The ATM network system of foreign advanced commercial banks is a business host, a set of pre program and ATM three level architecture. The host centrally deals with ATM transaction data and accounts, the pre program carries out transactional transfer, ATM monitoring and management, and the network system is simple and easy to centrally manage. The manpower cost and maintenance cost brought by centralized management are small.