In the evolving global financial landscape, Latin America has recently witnessed a significant surge in the adoption of multivendor ATM software. This rapid growth can be attributed to the initiation of new software projects, with prominent ventures such as the Banorte initiative in Mexico serving as catalysts.
A recent study from RBR Data Services, titled “ATM Software 2023,” highlights the escalating trend in the region. The research reveals that over the past two years, ATM implementations using multivendor software in Mexico alone have witnessed a staggering 66% growth.
Defining Multivendor ATM Software
RBR Data Services provides clarity on the term “multivendor software project.” Such a project involves ATMs, which, while running on identical application software, are not necessarily products of the software provider. The study’s scope covers “bank-grade” ATMs, primarily operating on comprehensive versions of Windows or comparable operating systems.
A Panoramic View of the Landscape
According to the study, six out of the seven surveyed Latin American markets reported at least a ten-percent surge in ATMs equipped with multivendor software. Over a span of two years, 13 significant new projects took shape in the region.
Mexico has emerged as a frontrunner in this growth curve, registering an increase of 11,600 ATMs employing multivendor software between 2020 and 2022. One discernible trend in Latin American deployers is their mounting inclination towards a consolidated methodology for software management and updates. This strategy, coupled with the adaptability provided by multivendor software in collaborating with diverse hardware vendors, has fuelled this shift.
Global Perspective: Contrasts and Trends
While Latin America thrives, the worldwide scenario depicts a decrease of 4% in ATMs with multivendor software from 2020 to 2022. This decline finds its epicentre in China, attributed to a sharp reduction in the nation’s total ATMs. Conversely, countries like India, Pakistan, and Australia in the Asia-Pacific zone demonstrate robust growth, catalysed by extensive projects by major deployers like SBI.
The narrative slightly differs in North America and Western Europe. These regions face a downturn, primarily due to banks recalibrating their ATM assets amidst the rising wave of cashless transactions.
However, regions like the Middle East, Africa, and Central and Eastern Europe narrate a story of growth, even in the shadow of geopolitical tensions such as the Russia-Ukraine conflict.
A Glimpse into the Future
Rachel Kelley, the spearhead of RBR Data Services’ ATM Software 2023 research, offers intriguing insights on the evolving ATM software arena. She envisions younger markets ripe for expansion, while established markets potentially reverting to more consolidated strategies. She further underscores the pivotal role India might play in the imminent landscape, particularly with banks incorporating or expanding their multivendor software approach.
As the financial ecosystem continues its dynamic evolution, stakeholders globally await the unfolding trends and trajectories in the multivendor ATM software sector.
