Fox Business - The Power to Prosper
Search Site

American Bankers Association

Outdated ATM Software Will Cost Banks

Banks around the world, consumed with meeting more stringent capital regulations, will miss a deadline to upgrade outdated software for automated teller machines (ATMs) and face additional costs to Microsoft to keep them secure.The U.S. software company first warned that it was planning to end support for Windows XP in 2007, but only one-third of the world's 2.2 million ATMs which use the system will have been upgraded to a new platform, such as Windows 7 by the April deadline, according to NCR, one of the biggest ATM makers.To ensure the machines are protected against viruses and hackers many banks have agreed deals with Microsoft to continue supporting their ATMs until they are upgraded, extra costs and negotiations that were avoidable but are now likely to be a distraction for bank executives."There are certainly large enterprise customers who haven't finished their migrations yet and are purchasing custom support," a spokesman for Microsoft said, declining to name those customers o...

Read More

  1. 4 Tips to Surviving a Bank Robbery

    In the wrong place at the wrong timeSuppose you're in a bank branch when it gets robbed. Should you hit the ground and stay quiet? Confront the robbers? Try to take ...

  2. Chronic Late Credit Card Payments: How Bad can Fines, Fees Get?

    Even the most conscientious among us occasionally botch making a credit card payment on time. But if you let it happen a second time, don't expect your card company ...

  3. Shutdown causing rift between Republicans and business?

    The Wall Street Journal’s Spencer Jakab and Republican strategist Noelle Nikpour on the government shutdown’s impact.

  4. Alcatel-Lucent cuts 10,000 jobs

    FBN’s Diane Macedo with the latest news before the market open.

  5. CARD Act Cut Fees $20 Billion

    The Credit CARD Act of 2009 succeeded in cutting fees for cardholders to the tune of about $20 billion per year -- without boosting interest rates or drying up the a...

  6. Washington needs a leader to get the job done

    ABA CEO and former Governor Frank Keating weighs in on the shutdown and debt ceiling.

  7. Have We Finally Learned Our Lesson About Using Credit Cards?

    From our mostly good news department: Fewer Americans are carrying onerous balances on their credit cards, most are paying less interest on those debts and many are ...

  8. 4 Ways to Build Credit Without a Credit Card

    Millions of consumers have what are called "thin credit files," meaning they have little or no record of using credit. About 25 percent of Americans don't use enough...

  9. Investors worried over government shutdown?

    BMO chief investment officer Jack Ablin gives his outlook for the markets and economy.

  10. Concerns over removing tax exemptions from credit unions

    ABA executive vice president of Congressional relations and political affairs James Ballentine on the efforts to remove credit unions’ $2 billion tax exemptions.

  11. Credit unions vs big banks

    Northwest Credit Union Association CEO Troy Stang on possible impact on credit unions of tax reform talks.

  12. Are Credit Cards More Expensive Now?

    Federal legislation tightening the regulation of credit cards has produced more responsible and satisfied consumers and fewer young people in credit card debt.The tr...

  1. Community banks celebrate change to Volcker Rule

    FBN’s Peter Barnes on the change to a Volcker Rule provision.

  2. Refi Activity Plummets, Are Banks Scared?

    Rising mortgage rates aren't just pinching potential home buyers -- banks are also feeling the heat as the once thriving refinancing market has come to a screeching ...

  3. 12 Credit Card Predictions for 2014

    Prepare to say goodbye to swiping your card each time you make a payment. Issuers are just starting to roll out the next generation of credit cards -- and they look ...

  4. Changes on the way for Volcker Rule?

    Claman on Call: FBN’s Cheryl Casone with an after-hours web-exclusive on the markets, investing in emerging markets and the Volcker Rule.

  5. Financial sector trying to dismantle the Volcker Rule?

    NYU Stern School of Business Professor Lawrence White on the future of the Volcker Rule.

  6. Financial Reforms Establish Fed Rule Changes

    The landmark Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 gave the Federal Reserve a number of new responsibilities. Some influence consumers in...

  7. How to Use the Grace Period to Avoid Paying Interest

    If you use a credit card and don't know the ins and outs of the grace period, you risk taking an awkward financial pratfall.Capitalizing on the grace period's break ...

‹ Prev12345Next ›
Freebase CC-BY
Source: American Bankers Association on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL