A recent study shows that 90%
of American banks ATMs still run Windows XP or even worse Windows CE. Microsoft
has discontinued support of XP as of April 8, 2014. What could this mean for
the banking and finance industry? The main concern across the board is
security, as hackers could soon have an unmonitored forum, putting data and end
users at risk.
Some major banks are cutting
deals with Microsoft to extend life support for their Windows XP machines while
they replace their fleet of ATMs, according to CNN, but replacing ATM operating
systems is a major undertaking. There are over 200 thousand ATMs in the United
States, according to Retail Banking Research in London. The labor required to
upgrade software, or even replace the entire system inside an ATM, could cost
anywhere between $1000 and $3500 apiece.
After April 8, bank customers
might be less concerned to use nondescript ATM found in malls, bars and small
convenience stores. These 190,000 independently run kiosks make up the other
half of the nation’s ATMs, and nearly all of them run and even older, simpler
operating system which Microsoft still supports.
As a consumer you will not
know what the operating system behind the scenes is. Ask questions of your bank
to see what their plans are for upgrading. I have read where Dibold is working
with financial institutions on upgrading systems. My one take away from this
is, we all knew XP was going away. Microsoft provided us 18 months to prepare.
Why didn’t these banks begin the process. Was it money or man power? Whatever
the reason, for the next few months you will see more issues centered around
ATMs and it will truly be a hacker’s paradise.
Be safe.
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