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Luther Simjian Came Up With the Idea

Luther Simjian Came Up With the Idea

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Published by anandbng07
All about ATM
All about ATM

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Published by: anandbng07 on Mar 11, 2010
Copyright:Attribution Non-commercial


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Luther Simjian came up with the idea of creating a "hole-in-the-wall machine"that would allow customers to make financial transactions. In 1939, LutherSimjian applied for 20 patents related to his ATM invention and field tested hisATM machine in what is now Citicorp.when the first ATM machine was invented by Scot John Shepherd-Barron andused by Barclays Bank in 1967. However, while Shepherd-Barron has the majorclaim to fame, there have been many other individuals who have also inventedsome version of the ATM. The machine itself has evolved over the years, withthe earlier versions restricted to only one or few banking functions. There hasbeen much debate, however, on who invented the first early versions of Automated Teller Machine. But the history of ATM can be visibly traced back tothe year of 1967.
However, some experts have the opinion that JamesGoodfellow of Scotland holds the earliest patent date of 1966 fora modern ATM, and John D White (also of Docutel) in the US isoften credited with inventing the first free-standing ATM design.In 1967, John Shepherd-Barroninvented and installed anATM in a Barclays Bank in London.Don Wetzelinvented anAmerican made ATM in 1968.
ATMs, standing for "Automatic TellerMachines", are an easy, convenientway to access your account fromalmost anywhere. If you're new tothem, don't worry. It's easy. Theinstructions are right there, on themachine.

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