Lithuanian Software ATMeye.iQ Installed into 9,000 U.S. ATMsTuesday, October 31, 2017
ATMs serviced by one of the U.S. largest banking and retail equipment supplies and maintenance networks will be equipped with software developed by the Lithuanian BS/2 company. According to Tomas Augucevičius, BS/2 Deputy Director General, next year the specialized ATMeye.iQ software will be installed on some 9,000 ATMs.
"The main factor that determines the ATMeye.iQ popularity is its functionality. We offer our customers a centralized system that allows monitoring the entire ATM network at any time. In case of an alarm, it immediately connects to CCTV cameras – and promptly follows the progress of financial transactions at one or another device”, says Mr. Augucevičius, who believes that the success of an innovative Lithuanian software solution in the U.S. market is due to the strict fulfillment of the customer's extremely high requirements for the banking transactions’ security requirements.
During the ATMIA US Conference, held in New Orleans in March 2016, BS/2 presented the ATMeye.iQ video surveillance solution to the participants and guests of this representative conference. The solution attracted great attention from local business people who also wished to secure their devices from fraud and vandalism. It is planned that the next step in the ATMeye.iQ progress will be the face detection function if a customer wishes to withdraw without PIN. The system will recognize the account owner by his or her appearance.
The ATMeye.iQ solution developed in Lithuania meets the requirements of the international Payment Application Data Security Standard (PA-DSS). According to Mr. Augucevičius, since 2001, when this software first appeared on the banking technologies market, it has been installed on approximately 70,000 ATMs around the globe. It is noteworthy that a unique technological solution is capable of capturing not only the moment of the transaction itself, but also the preceding time. Photo and video materials are also sent to the relevant services, where they are analyzed in order to prevent possible illegal actions.
Linking a transaction to a specific card offers additional security. Therefore, in case of customer claims, the responsible employee finds (by card number, ATM, date, time, etc.) photo and video of the disputed transaction, and the conflict is promptly resolved. This not only increases the level of customer loyalty, but also reduces the bank's costs for solving such situations (since there is no need for cash collection).
When trying to crack, use a blacklisted card, install a skimming device, the system immediately informs the bank operator and the responsible security officer about the event. In addition, the Mobile ATMeye.iQ app informs the senior security officer, along with photos and videos that expose the intruder.
"It’s great that the client has chosen our company. We are especially proud that our software will be installed on some 9,000 ATMs, enabling us to gain a foothold in the U.S. market. This gives us confidence that we’re on the right track”, Mr. Augucevičius says.
BS/2 is now seriously considering its further intellectual products’ advance onto other North American markets; apart from ATMeye.iQ, other solutions that ensure banking and retail business processes’ security and optimizations will be offered.