NAICS Code 333310-22 - Bank Equipment & Supplies (Manufacturing)

Marketing Level - NAICS 8-Digit

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NAICS Code 333310-22 Description (8-Digit)

Bank Equipment & Supplies (Manufacturing) is a subdivision of the NAICS Code 333310 that involves the production of machinery and equipment used in banks and other financial institutions. This industry is responsible for manufacturing a wide range of products that are essential for the smooth functioning of banks, such as safes, vaults, ATMs, cash dispensers, and currency counters. The equipment produced by this industry is designed to ensure the security of banks and their customers, as well as to facilitate the efficient handling of cash and other financial transactions.

Hierarchy Navigation for NAICS Code 333310-22

Tools

Tools commonly used in the Bank Equipment & Supplies (Manufacturing) industry for day-to-day tasks and operations.

  • Currency counters
  • Cash dispensers
  • ATMs
  • Safes
  • Vault doors
  • Night depositories
  • Teller cash recyclers
  • Check scanners
  • Coin sorters
  • Bill validators

Industry Examples of Bank Equipment & Supplies (Manufacturing)

Common products and services typical of NAICS Code 333310-22, illustrating the main business activities and contributions to the market.

  • ATM manufacturers
  • Safe manufacturers
  • Vault door manufacturers
  • Night depository manufacturers
  • Teller cash recycler manufacturers
  • Currency counter manufacturers
  • Check scanner manufacturers
  • Coin sorter manufacturers
  • Bill validator manufacturers
  • Cash dispenser manufacturers

Certifications, Compliance and Licenses for NAICS Code 333310-22 - Bank Equipment & Supplies (Manufacturing)

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • UL 291: UL 291 is a safety standard for financial equipment, including ATMs, cash dispensers, and other similar devices. This certification ensures that the equipment meets safety and security standards set by Underwriters Laboratories.
  • PCI DSS: The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. This certification is required for all companies that handle credit card information.
  • ISO 9001: ISO 9001 is a quality management system standard that ensures that a company's products and services meet customer and regulatory requirements. This certification is important for companies that want to demonstrate their commitment to quality and customer satisfaction.
  • NIST SP 800-53: The National Institute of Standards and Technology (NIST) Special Publication (SP) 800-53 provides a set of security controls for federal information systems and organizations. This certification is important for companies that work with government agencies or handle sensitive information.
  • ANSI/RIA R15.06: The ANSI/RIA R15.06 is a safety standard for industrial robots. This certification ensures that the robots meet safety and performance standards set by the Robotic Industries Association (RIA).

History

A concise historical narrative of NAICS Code 333310-22 covering global milestones and recent developments within the United States.

  • The Bank Equipment & Supplies (Manufacturing) industry has a long history dating back to the 19th century when the first mechanical cash register was invented by James Ritty in 1879. The industry has since then undergone significant changes, with the introduction of new technologies such as ATMs, electronic payment systems, and mobile banking. In the United States, the industry has seen a steady growth rate since the 1990s, with the introduction of new products such as check imaging systems, currency counters, and coin sorters. The industry has also seen a shift towards more environmentally friendly products, with the introduction of energy-efficient ATMs and recycling machines. Overall, the Bank Equipment & Supplies (Manufacturing) industry has played a crucial role in the development of the banking sector, providing innovative solutions to meet the changing needs of customers.

Future Outlook for Bank Equipment & Supplies (Manufacturing)

The anticipated future trajectory of the NAICS 333310-22 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The future outlook for the Bank Equipment & Supplies (Manufacturing) industry in the USA is positive. The industry is expected to grow due to the increasing demand for automated banking equipment and the need for enhanced security measures. The rise of digital banking has also created opportunities for the industry, as banks require new equipment to keep up with the latest technology. Additionally, the industry is expected to benefit from the growth of the banking sector in emerging markets. However, the industry may face challenges due to the increasing competition from foreign manufacturers and the need to comply with changing regulations.

Industry Innovations for NAICS Code 333310-22

Recent groundbreaking advancements and milestones in the Bank Equipment & Supplies (Manufacturing) industry, reflecting notable innovations that have reshaped its landscape.

  • Smart Safes: These safes use advanced technology to track cash deposits and withdrawals, reducing the risk of theft and errors.
  • Biometric Authentication: This technology uses fingerprints, facial recognition, and other biometric data to enhance security in ATMs and other banking equipment.
  • Cash Recyclers: These machines automate cash handling processes, reducing the need for manual labor and improving efficiency.
  • Mobile Banking Equipment: This equipment allows banks to offer mobile banking services to customers, enabling them to perform transactions on the go.
  • Anti-Skimming Devices: These devices prevent skimming, a common method used by fraudsters to steal credit card information from ATMs.
  • Remote Monitoring Systems: These systems allow banks to monitor their equipment remotely, reducing the need for on-site maintenance and improving uptime.
  • Cash Management Software: This software helps banks to manage their cash flow more efficiently, reducing the risk of errors and improving profitability.
  • Self-Service Kiosks: These kiosks allow customers to perform a range of banking transactions, reducing the need for tellers and improving customer service.
  • Interactive Teller Machines: These machines combine the convenience of ATMs with the personal touch of a teller, allowing customers to interact with a remote teller via video.
  • Digital Signage: This technology allows banks to display targeted messages and advertisements to customers, improving engagement and cross-selling opportunities.

NAICS Code 333310-22 - Bank Equipment & Supplies (Manufacturing)

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