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Diebold to debut virtual ATM

ATM maker Diebold Inc. will soon showcase its virtual ATM as well as a new ATM that uses biometric and near-field communication technologies.

During an upcoming trade show in Las Vegas sponsored by VMware Inc., a Palo Alto, Calif.-based technology company specializing in the virtualization in Diebold’s new product, participants will see the “world’s first virtualized ATM,” according to DigitalTransactions.net.

A virtual ATM is similar to a central computer running a network of PCs. A single server manages customer transactions such as cash withdrawals, deposits, balance inquiries and account transfers, which are normally managed at the end terminal.

The benefits of a virtual ATM include reduced unit expenses and enhanced efficiency in managing ATM fleets, according to DigitalTransactions.net.

"Virtualization will fundamentally change the way Diebold – and its customers – deploy solutions to the marketplace. It enables unified management of a wide array of services and paves the way for orchestration of multiple channels," Frank A. Natoli, Jr., the vice president and chief technology officer at Diebold, said, according to BetaNews.com. "This development is an important milestone on Diebold's road map to leveraging cloud computing technology in the retail financial space. This technology is a game changer for our industry."

Diebold has not yet selected financial institutions for testing.

Diebold is also showcasing its biometrics and NFC technology during the conference for a new product that the company has remained secretive about, according to DigitalTransactions.net.

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