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M2M Adapts to the Banking Industry

By Shankar Pandiath January 02, 2013

With every technological advancement, our machines get smarter and more efficient. Technology aims to better the tools, machinery and systems, lower costs, increase productivity and cut losses by increasing efficiency.

Heating, ventilation, air conditioning, HVAC systems, laundry appliances and refrigerators have all benefitted from advanced technology in the form of electronically controlled motors and embedded sensors. Technological development in the M2M space is the next generation evolution which holds out a promise of controlling all our machines and devices more efficiently and more productively.

By enabling machine-to-machine communications, by connecting and monitoring remote machines, companies and service providers have access to key data that makes them more productive and cost efficient. The companies can then gain insights and improve their responses to their customers. 


Image via Shutterstock

In our world, which is full of machines, the possibilities are indeed endless. For example, home with numerous devices all interconnected by M2M will inform a homeowner when security is being breached in any way, or a building maintenance manager will receive an alert if a compressor in one of his rooftop air-conditioning units stops running.

More and more enterprises are adopting M2M, which is now moving deeper into industries like finance and banking, where data security and control are of critical importance. A company called WebNMS (webnms.com) is also providing solutions for ATM machines. The solution is known as ATM Site Manager, and it remotely manages ATM machines. It monitors cameras, battery banks, lighting systems, air-conditioners, door lock systems and generates real-time actionable information and alerts.

This M2M solution consists of a Remote Telemetry Unit, RTU, which is connected to machines and central management software based on the WebNMS framework via relays and monitors. RTU communicates with the central management system with either a fixed line via Ethernet or cellular way through GPRS, General Packet Radio Service. RTU can also communicate with a central management system via SMS messages.

The remote management solution captures real-time data such as customer footprint patterns at an ATM. It can provide reports on the number of door openings, energy usage across sites, etc. Operators can receive alerts about the smoke, power outages, changes in room temperature, lighting etc. Operators can set temperature ranges for air-conditioners remotely. Vital maintenance data on assets like switches, breakers and transformers etc. can also be obtained routinely so that servicing issues can be immediately attended to.

Director of WebNMS, Prabhu Ramachandran believes that with M2M solutions operators can remotely take care of their assets. The banking industry incurs a huge ATM transaction cost for telecom, security, property, power and cash management which cuts into its profits. With M2M solutions, like WebNMS, the banking industry can further cut its costs.

By using M2M solutions, one machine’s connectivity can be leveraged to monitoring all those operating around it and is a very good example of the possibilities of M2M connectivity. For banking industry, banking M2M solutions not only help save money, but can also increase operational efficiency.




Edited by Brooke Neuman

IoTevolutionworld Contributor

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