With the evolution in digital payments and banking technology, it is necessary to reconsider the technological infrastructure and methods by which organisations interact with their customers.
Jaivinder Singh Gill, who has more than 25 years of experience in management roles, has constantly highlighted the rapid evolution of banking technology. He currently holds the position of Regional Vice President and Managing Director for Asia Pacific, the Middle East, and Africa at Diebold Nixdorf.
He is deeply involved in promoting digital transformation for financial institutions, enhancing security and reliability for clients. Jaivinder Singh Gill has played an important role in expanding Diebold Nixdorf’s business by introducing advanced banking technologies and managing the smooth integration of operations, including the successful implementation of Windows 11 on ATMs.
In an exclusive interview with International Finance, Jaivinder Singh Gill discusses the evolving role of cash and ATMs in the digital era, the problems encountered while upgrading banking technology systems, and the impact of intelligent self-service solutions and automation on the future of financial services.
With the rapid growth of digital payments such as UPI, how are banks rethinking the role of ATM networks and self-service banking in the overall customer journey?
The rise of digital payments needs to be looked at from the overall payments landscape. Digital payments are helping financial institutions to include a large section of the previously unbanked population into their financial systems at a much faster pace. From a self-service banking perspective, we are seeing a quicker convergence of the physical and digital, evident in UPI-based cash withdrawals from ATMs, real-time cheque truncation/ video teller through self-service, etc.
There’s a perception that cash usage is declining globally. From your perspective, how is the role of cash evolving in modern banking ecosystems, particularly in emerging markets?
Due to the rapid increase in the banked population across the region, more people are now part of the financial ecosystem. This large, banked population requires various channels of transactions, and hence we see a resurgence of the cash withdrawal values across the region. The rise in cash volumes is co-existent with the rise in digital payments, and hence, there is a co-existence phenomenon due to the increase in the banking population base.
What are the key challenges banks face when modernising legacy banking infrastructure while simultaneously building digital-first services?
Today, financial institutions face a unique challenge. While the global payments ecosystem is evolving rapidly, the legacy infrastructure of the majority of FIs makes it challenging to keep up with this evolution. The challenges are multiple and in the form of higher time to market, stiff fintech competition, complex operations, inconsistent customer experiences and a skills gap due to legacy code-based solutions.
How are intelligent ATMs and software-defined self-service platforms transforming the traditional ATM from a cash dispenser into a broader financial service point?
ATMs are now transitioning from being mono-function machines to highly intuitive multi-function banking service points. Modern self-service machines can now bridge the physical and digital payments world by seamlessly integrating via open banking and APIs. These machines can offer modern authentication mechanisms such as biometrics, and NFC-based mobile payments, enabling seamless and secure migration of key teller transactions to the self-service channel.
In what ways can automation and advanced ATM capabilities help banks expand financial inclusion, especially in underserved or rural regions?
Automation enables banks to provide services in underserved regions without expanding physical, full-fledged branch networks. Today’s self-service channel can migrate the majority of teller transactions, offering essential services at lower operational overheads. Today, the modern self-service devices provide 24/7 banking operations, leveraging AI-based remote tools to ensure maximum availability. User-friendly interfaces support local languages and intuitive interfaces. Integration with APIs and open banking enables seamless digital payments on physical channels. Intelligent cash recycling optimises operational costs, layered security protects against emerging physical and cyber threats, and efficient power management with remote capabilities helps reduce carbon emissions.
Cybersecurity and fraud prevention are major parts of the banking infrastructure. How are transaction platforms evolving to ensure secure and resilient financial ecosystems?
With the rise in digital payments and physical-digital convergence, security and resiliency across the payments lifecycle are paramount to ensure consumer trust. Hence, financial institutions today spend a majority of their time evaluating these aspects in any solution they evaluate. Security and resiliency are not only layered but are now embedded in the platforms. Companies are incorporating zero-day trust frameworks, investing in tokenisation, and providing seamless integrations to fraud management solutions. Platforms are building their tech to be ‘Always On, Always Available’, and are building infrastructure that is available on demand, auto scales, is API-driven and micro-services based to ensure a resilient payment technology.
What role do global banking infrastructure providers play in helping financial institutions scale digital services while maintaining reliability in the physical and digital channels?
As the payment tech innovates and volumes rise, payment modernisation is reimagining every customer touchpoint to drive operational efficiencies and deeper engagement: branch, ATM, teller, and digital. With legacy systems, there is a rise in complex integration-related challenges, increasing compliance risks and rising costs to manage all of this as a result. Global tech providers are better equipped to address these challenges owing to their vast experience in managing varied payment systems, implementing intricate transaction sets, and handling large-scale operations.
How do you see the relationship between physical banking infrastructure and digital channels evolving over the next five to 10 years?
The question is not really physical versus digital; that framing is already becoming outdated. Physical infrastructure will increasingly complement digital journeys, especially for services that require trust, assistance, and/or regulatory validation(s). Over time, financial institutions will move towards unified platforms that orchestrate these experiences across touchpoints, making channel boundaries largely invisible to customers.
With increasing pressure on banks to optimise costs, how can modern ATM networks contribute to operational efficiency while improving customer experience?
Modern ATM networks are becoming considerably leaner through predictive maintenance, automated cash management, and AI-driven remote services. Banks/FIs can directly increase consumer availability, streamline cash management, and optimise servicing costs. On top of this, modern ATM software allows addition/modification of services in a faster and leaner way. Taken together, these changes shift the ATM network from a cost centre with a fixed function into something that justifies its place in the broader operation by actively contributing to both efficiencies and enriched consumer experiences.
Looking ahead, what innovations in self-service banking or transaction technologies do you believe will most significantly shape the future of banking infrastructure?
The next phase of banking infrastructure will be driven by intelligence, connectivity, and flexibility. AI-led personalisation, cloud-native platforms, and deeper integration across channels will shape the ecosystem. Contactless, cardless, and biometric transactions will continue to grow. Ultimately, the focus will be on building infrastructure that is resilient, inclusive, and capable of delivering seamless experiences at scale.