May 6th 2014

PrivatBank’s Topless ATM became the breakthrough of Finovate 2014

The world’s first contactless Android ATM, developed and launched by PrivatBank, has been recognized as one of the main unveilings of the world's largest banking innovations forum FinovateSpring 2014 held in San Jose, USA. After the jury voting PrivatBank’s topless ATM was declared the winner of FinovateSpring 2014 and its ingenious presentation received the Best of Show award.

"New ATM technology developed in the Ukraine, a “topless ATM.” You use your smartphone, instead of a typical keypad to withdraw money. They also have a Google Glass interface for the ATM. Much less expensive, equipment is cheaper to maintain, you don’t use a card. The operating system is Android. The smartphone becomes your personal ATM.” - noted Steven J. Ramirez, Head of Beyond the Arc, Inc.

"Nice idea, I've never seen anything like this. Why press all the buttons on an ATM when you can use your phone to eject cash from a cash machine. And the ATM’s presentation was certainly the best use of humor", - said William Mills, Director of the leading financial PR-Agency William Mills Agency. 

The technology of contactless Android ATMs that allow withdrawing cash using a mobile phone was developed by PrivatBank in November 2013. These contactless devices are fundamentally new to the global market and allow reducing ATMs’ production costs and banks’ expenses on ATM network expansion significantly. “Live” presentation of the world’s first contactless Android ATM was held on April 28th at the world's largest banking innovations forum - Finovate 2014

“We have developed topless ATM by ruthlessly cutting off completely unnecessary upper part of a typical ATM”, – said Alexander Vityaz, PrivatBank Vice Chairman of the Board. – “Now every customer has their own personal display, card reader and keyboard – it’s a smartphone. The new generation of ATMs is many times cheaper than usual ones both in production, and maintenance, they are absolutely secured towards skimming and perform only one task – dispense cash to customers.” 

PrivatBank’s new ATM has no usual display with buttons and is equipped with NFC-reader. The "black box", as the producers called their new device, has the first-grade security safe and necessary minimum of electronics. First contactless ATMs were installed in PrivatBank’s branches. The bank is ready to start commercial production of its self-designed revolutionary ATMs in the first half of 2015.


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