Next generation ATMs: Promise or peril?

The next big-thing in automated teller machines: image scanning. These ATMs will make it much easier for banks to accept check deposits. But will security concerns undermine customer adoption? ATM hacking is a huge problem in the industry. A hacking ring that targeted Citigroup's ATMs at 7-Eleven's was recently busted, but this has been an issue for a while. Customers will not soon stop using ATMs, so the issue is building confidence around the new functionality, according to Bank Technology News. Tests have shown that such ATMs have boosted deposits. While less than 20 percent of banks have, or are piloting, an image-ATM solution, the big boys are starting to move. JPMorgan was planning to have 900 image-scanning ATMs in place this year. By 2010, all 5,000 of deposit-taking ATMs will be so equipped, Bank Technology News notes. We'll likely see more action from others as well. One issue is the budget. These ATMs cost about $30,000 vs. $20,000 for a standard ATM.   

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