Banks Racing to Upgrade ATMs

March 05, 2014

KUSA-TV 9NEWS

Banks everywhere are trying to upgrade their ATMs before they become targets for hackers in April.

Most ATMs run on Windows XP and Microsoft is getting rid of tech support for that system on April 8.

Major banks are now cutting special deals with Microsoft to extend support for their Windows XP machines while they replace their fleet of ATMs.

Andrew Urbaczweski is the Department Chair of Business and Analytics at the University of Denver. He says Window’s XP was never intended to be used for ATMs, but banks liked the way it looked. Urbaczweski says what is happening here inevitably happens with all technologies.

At some point, companies like Microsoft have to devote their resources to new technologies and phase out old technologies.

“They found their customers liked the interface they are used to with their computers they took a product that wasn’t designed for the system we are coming to the problem that we are at the end of life and we’re like what can we do,” Urbaczweski said.

Major banks are now cutting special deals with Microsoft to extend support for their Windows XP machines while they replace their fleet of ATMs.

Most banks tell CNN Money they are upgrading their ATMs, but most are not clear on when those upgrades will be made.

In the United States, there are about 200,000 bank ATM’s which run on Windows XP.

Experts say they have to be updated individually.

That is time consuming and expensive. Each upgrade costs anywhere from $1,000 to $3,500.