The traditional Portuguese Multibanco may be about to enter a new era, and as banks accelerate the digitalization of services, Smart ATMs are emerging: intelligent ATMs that promise to transform the banking experience, making it faster, safer and fully integrated with the digital world.
According to IoT For All, an American publication specializing in the Internet of Things (IoT) and digital transformation, these new ATMs represent the next step in the evolution of financial services, combining advanced technology with features that go far beyond simply withdrawing money.
The objective is clear: end queues, reduce dependence on physical cards and reinforce transaction security.
What are Smart ATMs
Smart ATMs function as true electronic counters. They allow you to make withdrawals, deposits, transfers, payments and even sign documents directly on the touch screen.
In many cases, it is no longer necessary to use a card: simply authenticate with your cell phone or, soon, with your face or fingerprint.
According to the same source, these machines integrate IoT technologies and can communicate directly with bank systems. This means that technical problems can be resolved remotely and that each terminal can be monitored in real time, reducing downtime and improving service.
Enhanced security with biometrics and AI
The great promise of Smart ATMs is security. Several versions already use biometric authentication, such as facial recognition, iris scanning or fingerprint. explains that these solutions make fraud more difficult and eliminate the need for PINs, which are increasingly vulnerable to computer attacks.
Furthermore, artificial intelligence makes it possible to identify anomalous behavior and stop suspicious transactions in milliseconds. Banks can monitor machine activity 24 hours a day, anticipate failures and ensure that there is no shortage of money at the terminals.
A new chapter for digital banking
Smart ATMs are not just a technological advancement; They are part of a broader integration strategy with digital banking ecosystems.
The publication states that, in the future, it will be possible to find an available machine through the bank’s app or even authorize withdrawals directly on your cell phone, without any card.
But this modernization also raises challenges. Connectivity between systems requires new data protection standards and constant vigilance against cyberattacks. Still, the path seems inevitable: smarter, safer and more autonomous automatic transmissions.
Multibanco, a symbol of Portuguese innovation for decades, can now be inspired by Smart ATMs for the next technological leap. And, if everything goes as planned, the era of queues and cards could even be coming to an end.
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