Money Safe: Protecting Sensitive ATM Financial Data
Financial institutions have the responsibility of keeping their customers’ information private and secure. When providing processing solutions for financial institutions, vendors and partners of these institutions must also provide a high level of security. In a 2013 study by Kaspersky Lab, there were 28.4 million cyber attacks involving financial malware identified. This was a 27.6% increase over 2012.
Euronet is Poland’s leading provider of electronic payment and transaction processing solutions for financial institutions, retailers, service providers and individual consumers. In 2009, Euronet processed over 1.5 billion transactions and posted annual revenues of more than $1 billion. The company employs over 2,700 people in 28 countries, making it a truly global player in the electronic fund transfer (EFT), prepaid and money transfer industries. In Poland, Euronet owns over 4,000 ATMs and manages over 20 percent of all ATMs.
Euronet’s vast network of ATMs depends on secure, reliable connections to provide customers with a safe transfer of financial details and the ability to withdraw cash at any time. Euronet consulted communications specialist S&T to recommend a wireless technology that would provide a safe, reliable and easy-to-install solution for its ATM network.
Reliable and secure connections are vital to business operations. ATM fees are commonly 5 PLN (approximately $1.50) per transaction, and it’s not uncommon for an ATM to process about 50 transactions per day. One day of downtime for a single ATM results in 50 unhappy customers and up to $75 in lost revenue. Considering Euronet has 4,000 ATMs, a full day of outages for their machines would result in $300,000 in lost revenue, which is a risk too big to take.
Combined with its high-quality equipment and Euronet’s previous positive experiences of using its technology in the Czech Republic, S&T directed Euronet to Digi International for the use of the Digi TransPort® GSM/cellular routers for installation in each ATM. The Digi devices use GPRS, EDGE, UMTS and HSPA mobile standards to securely transmit data over long distances across the existing mobile GSM/cellular network, offering a number of advantages over competitor equipment.
Following rigorous proof-of-concept testing by Euronet and S&T, the Digi TransPort solution was rolled-out across Euronet’s network of Polish ATMs.
Euronet chose Digi’s technology for the following reasons:
- High-quality, reliable connection: Digi offers a dual-network router. When the router detects interference with one network operator’s signal, the router automatically switches to the other in order to maintain an uninterruptable flow of data.
- Connection security: Digi TransPort routers enable secure channels for transmitting VPN data on the GSM operator's public network between each ATM and the back-office management system.
- Cost and ease of installation: Installing the Digi router in each ATM is far simpler than setting up complex satellite aerials and related hardware. This allows Euronet to deploy new ATMs quickly and easily, while also keeping installation costs down.
- Bandwidth: Digi routers offer greater bit-rates than previous solutions.
“The Digi GSM routers have allowed us to move away from the old satellite technology into a new era of flexible, cost-effective and secure GSM technology. We have a service level agreement (SLA) with our clients of 99.5% continuous service, so we need to use the very best technology in order to deliver the service they expect,” said Zuzanna Smolarek, Marketing Manager at Euronet. “Digi International has helped us successfully comply with this SLA. We can deploy ATMs anywhere in the country and be sure we will receive continuous service.”
“We are responsible for the safe transmission of millions of private financial transactions every day, so security is our number one priority. The new routers provide a safe VPN channel that gives Euronet - and our customers - peace of mind, said Smolarek. “We are so satisfied with the Digi technology that we are planning to use GPRS technology again in the near-future in other regions.”
In addition to new projects in other areas of Europe, Euronet intends to add Digi TransPort routers to its mobile ATMs - often used at music festivals and sporting events. The equipment provides a high-quality connection, meaning Euronet can be confident that wherever an ATM is deployed, its wireless technology will guarantee a great service.