Is the Future of the ATM Past?
- 161 Downloads
When I joined the bank [in 1973], I was against ATMs. We didn’t know that ATMs were the future. I thought the technology was a little early and thought we could use retail establishments as the vehicle to provide cash to customers. Supermarkets in the United States at that time used to have excess cash as they used to cash checks for people. The question was how to provide on-line, real-time support.
(Interview, 8 September 2009)
KeywordsPath Dependence Financial Intermediary Personal Identification Number Food Retailer Building Society
Unable to display preview. Download preview PDF.
- Anonymous (1961), ‘Machine Accepts Bank Deposits’, New York Times, 4 April.Google Scholar
- Anonymous (1975), ‘Barclays has Ordered 100 NCR 770’, Financial Times, 27 May.Google Scholar
- Anonymous (1998a), ‘Big Four Banks Join the Link’, Sunday Times, 25 October.Google Scholar
- Anonymous (1998b), ‘Nationwide to Test Biometrics at ATM’, Financial Technology International Bulletin, 15(5): 1–3.Google Scholar
- Anonymous (2000), ‘Personalised ATM’, Spotlight, 9 September.Google Scholar
- Anonymous (2004). ‘MPs Probe Cash Machine Charges’, Daily Mail, 21 December 2004.Google Scholar
- Bátiz-Lazo, B., Karlsson, T. and Thodenius, B. (2009), ‘Building Bankomat: The Development of On-Line, Real-Time Systems in British and Swedish Savings Banks, c.1965–1985’, Association of Business Historians Annual Conference, Liverpool.Google Scholar
- Bátiz-Lazo, B. and Maixé-Altés, J. C. (2009), Managing Technological Change by Committee: Origins and Development of Data Processing Networks in Spanish and British Savings Banks (circa 1960–1988), Joint Conference of the EBHA/BHC, Milan, Bocconi University.Google Scholar
- Bátiz-Lazo, B. and Reid, R. (2008), Evidence from the Patent Record on the Development of Cash Dispensers and ATM Technology, IEEE History of Telecommunications Conference, Paris.Google Scholar
- Blair, S. (2007), ‘Grid Expectations’, Engineering & Technology, 2 December: 28–9.Google Scholar
- Booth, A. E. (2007), The Management of Technical Change: Automation in the UK and USA since 1950, Houndmills: Palgrave Macmillan.Google Scholar
- Campbell-Kelly, M. (2003), From Airline Reservations to Sonic the Hedgehog: A History of the Software Industry, Cambridge, MA: The MIT Press.Google Scholar
- Celnet (2006), ‘Biometrie ATMs in Japan: Fighting Fraud with Vein Pattern Authentication’, Retrieved 10 September 2009 from http://reports.celent.com/PressReleases/20060329(2)/BiometricsJapan.htm.
- Coopey, R. (2004), ‘A Passing Technology: The Automated Teller Machine’, in P. Lyth and H. Trischler (eds), Wiring Prometheus: Globalisation, History and Technology, Aarhus: Aarhus University Press: 175–92.Google Scholar
- Cushing, K. (2002), ‘Nationwide will use Biometric Technology to Check Signatures’, Computer Weekly, 4: 1–4.Google Scholar
- David, P. (1985), ‘Clio and the Economics of QWERTY’, American Economic Review, 74(2): 332–7.Google Scholar
- David, P. A. (2000), ‘Path Dependence, its Critics and the Quest for “historical economics”‘, in P. Garrouste and S. Ioannides (eds), Evolution and Path Dependence in Economic Ideas: Past and Present, Cheltenham: Edward Elgar: 15–40. Economist (2009), ‘Path Dependence’, Retrieved 30 August 2009 from http://www.economist.com/research/economics/alphabetic.cfm?term=pathdependence#pathdependence.Google Scholar
- Epstein, G. A. (2005), Financialization and The World Economy, Cheltenham: Edward Elgar.Google Scholar
- Froud, J., Johal, S., Leaver, A. and Williams, K. (2006), Financialization and Strategy: Narrative and Numbers, London: Routledge.Google Scholar
- Haber, L. (1996), ‘Banking on the Future’, LAN (New York then San Francisco), 11(7): 119–23.Google Scholar
- Harrington, A. (1997), ‘The Future lies in On-Line Banking’, CA Magazine (Institute of Chartered Accountants of Scotland), 101(1088): 4, 16–20.Google Scholar
- House of Commons (2005), Fifth Report of Session 2004–5, Cash Machine Charges (Paper No. 191), Treasury Committee, Her Majesty’s Stationary Office, LondonGoogle Scholar
- Jack, R. B. (1989), Banking Services: Law and Practice Report by the Review Committee, Her Majesty’s Stationary Office, London.Google Scholar
- Kotter, J. P. (1990), A Force for Change: How Leadership Differs from Management, London: The Free Press.Google Scholar
- Liebowitz, S. J. and Margolis, S. E. (1995), ‘Path Dependence, Lock-In, and History’, Journal of Law, Economics & Organization, 11(1): 205–26.Google Scholar
- LINK (2008), ‘Welcome to LINK’, Retrieved 25 May 2008 from http://www.link.co.uk/mn_homepage.html.
- LINK Press Centre (2008), ‘Link Reports Continued Progress in Installing Free-To-Use Cash Machines in Lower Income Areas’, Retrieved 2 June 2008 from http://www.link.co.uk/press/2008/mn_press_release_20080410.html.
- Manning, R. D. (2000), Credit Card Nation, New York: Basic Books.Google Scholar
- Milligan, B. (2007), ‘The Man Who Invented the Cash Machine’, Retrieved 25 June 2007 from http://news.bbc.co.uk/1/low/business/6230194.stm.
- Nagurney, A., Cruz, J. M. and Wakolbinger, T. (2007), ‘The Co-Evolution and Emergence of Integrated International Financial Networks and Social Networks: Theory, Analysis, and Computations’, in R. Cooper, K. P. Donaghy and G. J. D. Hewings (eds), Globalization and Regional Economic Modeling, Berlin: Springer: 183–226.CrossRefGoogle Scholar
- O’Brien, D. (2002), ‘Danny’s Talk’, Spotlight, July/August: 6.Google Scholar
- Orlikowski, W. and Barley, S. (2001), ‘Technology and Institutions: What can Research on Information Technology and Research on Organizations Learn from Each Other?’, MIS Quarterly, 25(145-65).Google Scholar
- Phillips, K. (2006), American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century, London: Penguin.Google Scholar
- Pinch, T. (2001), ‘Why You go to a Music Store to Buy a Synthesizer’, in R. Garud and P. Karnoe (eds), Path Dependence and Creation, Mahwa, NJ: Lawrence Erlbaum: 381–400.Google Scholar
- Poulter, S. (2005), ‘Why More of Us Have to Pay to Draw out our Cash’, Daily Mail, 12 November.Google Scholar
- Ritters, K. (2003), Consumer Education in the UK, London: Trading Standards Institute.Google Scholar
- Sienkiewicz, S. (2002), ‘The Evolution of EFT Networks from ATMs to New On-Line Debit Payment Products’, Discussion Paper Payments Cards Centre, Philadelphia, PA: Federal Reserve Bank of Philadelphia.Google Scholar
- Sullivan, R. (2007), ‘Risk Management and Nonbank Participation in the U.S. Retail Payments System’, (Kansas City Federal Reserve Bank) Economic Review, 2nd quarter: 5–40.Google Scholar
- Walker, D. A. (1975), Characteristics of Retail Electronic Funds Transfer Systems in the United States, Federal Deposit Insurance Corporation WP 75–5, Washington, DC.Google Scholar
- Welch, P. and Worthington, S. (2007), ‘Banking at the Check Out’, Journal of Financial Transformation, 21: 77–84.Google Scholar
- Yates, J. (2005), Structuring the Information Age, Baltimore, MD: The Johns Hopkins University Press.Google Scholar