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November 03, 2009
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Level Four's Survey Finds ATM Security a Concern for US Consumers
February 12, 2009
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Press Releases
February 17, 2009
LEVEL FOUR'S SURVEY FINDS ATM SECURITY A CONCERN FOR US CONSUMERS
London, 17 February 2009 - Level Four, the provider of open standards-based ATM software, in its recent commissioned consumer survey conducted on its behalf by Harris Interactive®, found that 67 per cent of U.S. adults would consider switching to another bank if their primary financial institution suffered an instance of ATM fraud or data breach. Further, nearly one in four (24 per cent) would be likely or very likely to consider switching primary financial institutions in the case of an ATM security compromise.
What these survey findings highlight is that financial institutions are in jeopardy of eroding consumer loyalty with each instance of fraud at the ATM. During a time when financial institutions are struggling to remain profitable, there is an increased focus on operational efficiency and driving out cost from business-as-usual activities. With the continued industry focus on fraud at the ATM, ensuring maximum software quality and security as well as maximising ATM uptime remain key concerns for ATM deployers.
Level Four’s BRIDGE:control product assists banks in ensuring ATM uptime by employing state-of-the-art methods to deliver reliability at the ATM. BRIDGE:control is helping banks maximise their ATM uptime by using techniques such as remote software maintenance, predictive hardware maintenance and direct-to-device diagnostics. Additionally, BRIDGE:test enables banks to automate their software Quality Assurance testing, minimising the chance of software failures which result in downtime.
“With cases of ATM fraud steadily on the increase, financial institutions require solutions that enable them to quickly identify and mitigate fraudulent activity at the ATM,” said Steven Lund, president of Level Four Americas, LLC. “Because consumers rely on financial institutions to safeguard their privacy, allowing fraud to occur at any level is unacceptable. Investments in technology solutions that assist financial institutions in the elimination of security breaches pay for themselves many times over.”
About the Survey
This ATMs commissioned survey was conducted online within the United States by Harris Interactive® on behalf of Level Four Americas between the 1st and 5th August 2008 among 2,175 U.S. adults aged 18+, of whom 1,945 have a primary financial institution which has ATMs. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
About Harris Interactive®
Harris Interactive is a global leader in custom market research. With a long and rich history in multimodal research, powered by our science and technology, Harris Interactive® assist clients in achieving business results. Harris Interactive® serves clients globally through our North American, European and Asian offices and a network of independent market research firms. www.harrisinteractive.com.
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