ATM is an electronic banking terminal that enables consumers to conduct simple transactions without the assistance of a teller or branch personnel. ATM stands for Automated Teller Machine. ATMs are convenient because they allow customers to do self-service operations. The first ATM was installed in a Barclay's Bank branch in London in 1970. It connects through Interbank communications networks which were developed in the 1970s. Atm performs several functions such as cash dispense, paying routine bills, fees, and taxes, updating passbooks, printing or ordering bank statements, etc. ?Thus, In electronic banking, ATM stands for Automated Teller Machine. Additional InformationComponent of ATMS: Card readerKeypadPrinterCash dispenserScreen