Born and raised in Duc Pho, Quang Ngai, Cuong endured poverty in his childhood. The future inventor then resolved to study hard and overcome his obstacles.

He studied at the University of Medicine and Pharmacy HCM City, but found his interests in the field of Mechanical Engineering at Phu Tho University in HCM City.

In 1963, a group of Japanese researchers came to Vietnam to seek Vietnamese intellectuals. Cuong got the highest score on the test and got a scholarship to study at the University of Osaka. During his time in Japan, Cuong also worked at Toshiba Corporation.

After graduating from the University of Osaka, Cuong continued his studies in the US, this time in the field of banking. He stuck with this profession until today as an executive, but still retained a passion for invention, with 58 patents relating to banking and communication technology.

Cuong's talents and inventions soon attracted big corporations who were looking to improve their businesses. In 1977, Walter Briston, then CEO of Citibank, personally offered Cuong a job at one of the US' biggest banks, to make Citibank's banking technology better, one of which resides in their ATMs.

Back in the 70s, ATMs were faulty and not popular among people. Users were hesitant because ATMs were not easy to use.

The first ATMs were also somewhat inconvenient – big, heavy and difficult to transport. They were also not placed in convenient locations.

Also, old-tech ATMs could only provide a set amount of money encoded on a card by the bank, and the customer could not freely choose the amount they wanted to withdraw.

These hindrances in technology almost spelled the doom of ATMs, since it is a technology that seemed not to be for everyone. However, the convenience of not having to travel to a bank and withdraw money, along with all the paperwork that go with it, meant many still had a favourable opinion of ATMs.

Many advances in technology have been made during the last 50 years to make ATMs lighter, better, faster and safer. These efforts resulted in increasing usage.

In the 1970s, there were only 1,500 ATM machines in the world, mostly in Japan and Western countries. Ten years later, the number grew to 40,000 and reached one million by the millennium.

Do Duc Cuong's patent No. D386883, recognised by the United States Patent and Trademark Office in 1997, is one of the most important innovations to the design of the ATM.

The sleek, simple design better helped the installation of the ATM in many places, making it easier to reach customers.

In his 20 years at Citibank, Cuong and his peers improved the ATMs and helped the banking giant expand its operations. 

"In my time at Citibank, there is one thing that I realised," said Cuong, "If banks do not see common people as potential customers, they will never grow. A bank that brings their services to the masses is one that will find success."

In 2006, Do Duc Cuong was given the Honour of Vietnam award. Outside of his work in banking and inventing, Cuong is also well-known as an expert in medicine, technology and economics. 

Source: Vietnam News