Citigroup is pioneering a new biometric ATM that aims to do away with the inconvenience of having to remember a four digit pin number or even the need to carry a card.
The American banking corporation, in conjunction with ATM-manufacturer, Diebold, plans to make withdrawing money more secure. The two companies are working on a machine that authorizes withdrawals after an iris scan or unique smartphone code (via Near Field Communication or QR code) has authenticated the customer. The customer would be required to schedule a withdrawal via the bank's smartphone app.
Diebold's believes that their innovative ATM, codenamed "Irving", will be able to complete transactions inside 10 seconds whilst also offering security far superior to the current chip-and-pin cards.
Diebold claims that their next generation ATM is entirely screen-less, thus minimizing the possibilities for third party snooping. The new technology will make use of the customer’s smartphone as the interface for the transaction. No bank card will eradicate the problem of card skimming but leaving the smartphone as the primary interface between bank and customer will in itself pose problems.
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