Say goodbye to PIN card ATMs

From News24

“When the first Standard Bank ATMs (Automatic Teller Machines) hit South Africa in 1981, the technology fundamentally changed banking in that it allowed customers to access their accounts after banking hours.

South Africa is soon to undergo another shift in ATMs as a company plans to introduce machines that don't require a card with a PIN (Personal Identification Number) to draw cash.”

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How your bank could look in five years' time

From The Telegraph

“A technological revolution is under way in banking, with computers lined up to replace humans in branches.

Intelligent machines could replace human bank staff in high street branches within five years, the Telegraph has learnt.

Several major banks are understood to be in talks to introduce "express" branches, which would be similar to self-service checkouts in supermarkets. These smaller outlets would be almost completely devoid of human interaction.

If trials are successful, the new format is likely to be adopted across Britain, sources said, with larger branches slimmed down and staff numbers reduced in branches.

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The Human Toll of Digital Banking

From American Banker

“Last week, Barclays announced the layoffs of 1,700 branch employees and blamed the rise of mobile banking. Cashiers, personal bankers, operations specialists, branch managers and assistant managers will all lose their jobs throughout 2014, the U.K. bank said.

A Barclays spokesperson said, "More and more people are choosing to use smart phones and technology for everyday transactions — using branches only when they need access to expertise. We are responding by investing in the channels that customers are increasingly using, whilst improving customer service."

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The Six Things That Will Change the Future of Payments

From PYMNTS.com 

“Well, it’s that time of year … summer is (sadly) coming to a close, the kids are headed back to school and 2014 strategic planning sessions are kicking off. If you’re someone who is leading, contributing to or relying on the output of these sessions, then pull up your beach chair, apply some sunscreen (this is a bit long) and read on.”

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SWIFT draws a veil over failed community network

From Finextra

“Inter-bank co-operative Swift is to shut down its proprietary social network Swiftcommunity.net, after the forum failed to gain traction among users.

Launched to great fanfare in 2007, Swiftcommunity.net was intended to act as an online equivalent to the Society's annual operations forum Sibos, where correspondent bankers from around the world would gather to meet their peers and debate industry issues.”

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