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

• Currency counters
• Coin counters
• Check scanners
• Cash drawers
• Deposit bags
• Vault doors
• Safe deposit boxes
• ATM machines
• Teller pedestals
• Drive-up equipment
• Security cameras
• Alarm systems
• Fireproof filing cabinets
• Key management systems
• Time clocks
• Lobby furniture
• Queue management systems
• Digital signage
• Electronic signature pads

Common products and services typical of NAICS Code 423420-05, illustrating the main business activities and contributions to the market.

• Cash handling equipment
• Bank vaults
• ATM machines
• Security cameras
• Check scanners
• Deposit bags
• Teller pedestals
• Drive-up equipment
• Safe deposit boxes
• Key management systems

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 such as ATMs, cash dispensers, and other similar devices. It ensures that the equipment is secure, reliable, and can withstand various environmental conditions. The certification is provided by Underwriters Laboratories (UL).
• 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. Compliance with PCI DSS is mandatory for all merchants that accept credit cards.
• NIST SP 800-53: The National Institute of Standards and Technology (NIST) Special Publication (SP) 800-53 provides a catalog of security and privacy controls for all U.S. federal information systems except those related to national security. Compliance with NIST SP 800-53 is required for all federal agencies and their contractors.
• ISO 27001: ISO 27001 is an international standard that provides a framework for establishing, implementing, maintaining, and continually improving an information security management system (ISMS). Compliance with ISO 27001 is voluntary but can be used to demonstrate an organization's commitment to information security.
• SSAE 18: Statement on Standards for Attestation Engagements (SSAE) No. 18 is a set of auditing standards and guidance for service organizations. It provides a framework for service auditors to issue reports on controls at service organizations. Compliance with SSAE 18 is required for service organizations that provide services to other organizations.

A concise historical narrative of NAICS Code 423420-05 covering global milestones and recent developments within the United States.

• The "Bank Equipment & Supplies (Wholesale)" industry has a long history dating back to the early 20th century when the first mechanical calculators were introduced. The industry has since evolved to include a wide range of products such as cash handling equipment, safes, and security systems. Notable advancements in the industry include the introduction of electronic calculators in the 1960s, the development of ATMs in the 1970s, and the introduction of biometric security systems in the 2000s. In the United States, the industry has seen significant growth since the 2008 financial crisis, with banks investing heavily in new technology to improve efficiency and security. For example, many banks have implemented cash recycling machines that can count and sort cash, reducing the need for manual labor. Overall, the "Bank Equipment & Supplies (Wholesale)" industry has played a crucial role in the development of modern banking and continues to innovate to meet the changing needs of the industry.

The anticipated future trajectory of the NAICS 423420-05 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 (Wholesale) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for banking equipment and supplies. The growth of the banking sector and the increasing number of bank branches are expected to drive the demand for bank equipment and supplies. Additionally, the increasing adoption of technology in the banking sector is expected to create new opportunities for the industry. The industry is also expected to benefit from the increasing focus on security and compliance in the banking sector. Overall, the Bank Equipment & Supplies (Wholesale) industry is expected to experience steady growth in the coming years.

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

• Biometric Authentication Systems: Biometric authentication systems are becoming increasingly popular in the banking sector. These systems use biometric data such as fingerprints, facial recognition, and voice recognition to authenticate users. This technology is expected to improve security and reduce fraud in the banking sector.
• Cash Recycling Machines: Cash recycling machines are becoming more popular in the banking sector. These machines can accept, count, and dispense cash, reducing the need for manual cash handling. This technology is expected to improve efficiency and reduce costs for banks.
• Mobile Banking Apps: Mobile banking apps are becoming more popular among consumers. These apps allow users to perform banking transactions on their mobile devices, reducing the need for in-person visits to bank branches. This technology is expected to improve convenience for consumers and reduce costs for banks.
• Smart Safes: Smart safes are becoming more popular in the banking sector. These safes use technology such as biometric authentication and real-time monitoring to improve security and reduce the risk of theft. This technology is expected to improve security and reduce costs for banks.
• Virtual Reality Training: Virtual reality training is becoming more popular in the banking sector. This technology allows bank employees to receive training in a simulated environment, reducing the need for in-person training sessions. This technology is expected to improve efficiency and reduce costs for banks.