Multivendor ATM software enables banks and financial institutions to take control of their ATM networks to reduce costs, increase functionality, and improve competitiveness. Many financial institutions have discovered the need to acquire innovative financial self-service equipment from different manufacturers.
This generates the need to install a multivendor software solution to manage their ATM and kiosk network from a central location.
The software gives end user the ability to remotely monitor, trouble shoot, and control self-service equipment from a central location.
Ongoing modernization of older ATM estates, increase in demand for modern ATM software and hardware, rise in demand for self-service ATM software in various financial sectors, and surge in awareness about the benefits of multivendor ATM software are the major factors that fuel the growth of the multivendor ATM software market.
However, limitations in terms of ATM management and complexity in working with ATM suppliers are expected to hinder the multivendor ATM software market growth.
On the contrary, integration of new technologies such as contactless payments, QR codes, and touch screens are expected to provide lucrative opportunities for the market growth in the coming years.
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The multivendor ATM software market is segmented on the basis of component, function, end user, and region. Based on component, the market is categorized into software and service.
On the basis of function, it is divided into bill payment, card payment, cash/cheque dispenser, cash/cheque deposit, passbook printer, and others.
Depending on end user, it is categorized into banks & financial institutions, and independent ATM deployer. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the multivendor ATM software market include Auriga SpA, Clydestone Group, Diebold Nixdorf, Incorporated, GRGBanking, KAL, Nautilus Hyosung America, Inc., NCR Corporation, Printec Group, and Vortex Engineering Pvt. Ltd., Incorporated.