Elevate Banking Experiences with Next-Generation PIN Pad Technology

Authenticating account holder identity is becoming more of a priority. Successful financial fraud attempts have increased by 159% since 2018, and regulators are more carefully scrutinizing compliance with the Bank Secrecy Act and Anti-Money Laundering (AML) rules. Authentication is integral to banking security at the ATM and with mobile or online banking. However, it’s more of a challenge at the teller window when a customer presents a check from a different bank to cash or an unusually large cash deposit. A PIN pad gives tellers a fast and efficient way to verify a customer’s identity, protect cardholder data, and keep lines moving to enhance banking experiences.

Key Features of Next-Generation PIN Pads

Whether you are deploying PIN pads to replace manual authentication methods or upgrading devices currently in service to enhance banking experiences, your financial institution will benefit from cutting-edge payment technology with the following features:

• Enhanced Banking Security:  For the highest degree of banking security, invest in PIN pads with the most current Payment Card Industry (PCI) PTS PIN Security Requirements. PIN pads that comply with these mandates will utilize strong encryption methods and key management to protect PIN data and meet requirements for payment device hardware and firmware.
• Cutting-Edge Authentication Methods: Banks can deploy technology that streamlines processes and shows their customers that they value their time and their privacy. Next-generation PIN pads allow customers to insert their debit cards and enter their PINs for quick authentication, rather than communicating sensitive information verbally. You can also find technology that uses advanced fraud prevention methods, such as biometric authentication, for stronger account security while providing positive banking experiences.
• Durable Design: PIN pads for banking applications must withstand high-volume use to deliver reliable performance. Evaluate device design features that will contribute to a longer life and low total cost of ownership (TCO), including a screen and keypad resistant to wear and breakage. 
• Compatibility with Banking Systems and Software: Research whether the devices’ payment technology platform can easily integrate with your banking system for seamless data sharing and logging account holder authentication for compliance. 
• Estate Management: Deploying next-generation PIN pads across all branch locations will increase efficiency and enhance customer experiences. However, expanding your technology footprint requires a way to manage devices. An estate management solution developed specifically for payment devices allows an administrator to configure and update devices throughout your enterprise from a central location. It can also support remote key injection, simplifying secure deployment and managing it more cost-effectively. A built-for-purpose payment device estate management solution also allows you to check the health of devices and schedule maintenance to avoid downtime.

Impact of Advanced PIN Pads on Banking Experiences

Deploying next-generation PIN pads will provide your financial institution with several advantages. The tech will strengthen your bank’s overall security profile, strengthening fraud prevention strategies and protecting sensitive data. Ease of use, as well as the increase in security, will enhance customers’ experiences and their overall trust in your brand. 

Adopting or upgrading to state-of-the-art PIN pads will also help your bank by ensuring you can adapt to evolving industry standards. Deploying innovative payment technology now, such as devices that run on an Android-based platform, gives you the flexibility to add value-added services, customize banking experiences, and adapt to changing standards and regulations. Furthermore, choosing a platform approach gives you expanded features and functionality with just a single integration.    

The Right PIN Pad for Your Financial Institution

To avoid the ever-increasing number of costly fraud incidents and the possibility of a data breach, it’s crucial to leverage technology, including next-generation PIN pads, designed to increase banking security. You also need to balance security with optimal customer experiences. When you’re ready to upgrade your existing technology or upgrade existing devices to meet these needs consider these models from Ingenico:

1. The Lane/3600 and 7000/8000 Series These advanced PIN pads offer:

• State-of-the-art security features, including end-to-end encryption and tamper-resistant design
• Versatile payment options supporting both traditional and contactless methods
• User-friendly interfaces that enhance the customer experience
• Compatibility with a wide range of banking systems and software

The Lane series effectively addresses current banking challenges by providing a robust security framework while offering the flexibility to adapt to future needs.

2. The RX Line: Redefining Banking Interactions Ingenico's RX Line takes banking security to the next level:

• Android-based platform allowing for customization and integration of value-added services
• Advanced biometric capabilities for enhanced security and user authentication
• Sleek, modern design that elevates the customer experience
• Powerful processing capabilities to support complex banking applications

The RX Line is well-suited for various banking scenarios, from traditional branch operations to self-service kiosks and mobile banking solutions.

The right PIN pad will enhance banking experiences, helping you create favorable impressions and build stronger relationships with account holders. They’ll see your commitment to creating the most convenient, efficient interactions that also protect their accounts, their sensitive data, and their privacy by deploying modern technology. For more information, contact Ingenico.