Cash Lives On in a Digital Finance World with Mike Lee of NCR
Mobile ordering and self-service technologies have been dominating all kinds of industries in recent years, often being seen in food & beverage, retail and hospitality businesses. The way younger generations are interacting in these markets has changed, and continues to change financial institutions have had to grow to meet these trends as well.
In the past 15 years alone, large banks began ushering new digital solutions in the financial world. In fact, the transition to the electronic age saw the National Cash Register Corporation simplify its name to NCR as traditional registers became more outdated. With the shift to online and digital banking, there’s this idea that “cash is dying,” but according to Mike Lee, a Territory Account Manager at NCR, this is actually “not the case;” he makes the claim that the “volume of cash being dispensed […] is actually going up.”
This tech evolution didn’t come without its share of setbacks. Through this episode, we talk with Lee about the pressure for banks to keep up, the frequent infrastructure updates, and how security remains a paramount concern.
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