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Citigroup is testing two concept ATMs from Diebold that will scan a customer's eyes using their cell phone:
The first concept, dubbed "Irving", uses the customer's phone camera to scan their iris instead of having them type in their personal ID number. Diebold estimates that the cash withdrawal process could be shortened to just 10 seconds with this method. The second concept, known as "Janus", is a double-sided ATM that also does away with the card reader. Instead, it can email or text receipts to the user.
Despite growing demand, Citigroup doesn't appear to be in that much of a hurry:
"Larger players sometimes like to wait on the sidelines a little longer to see if a product has merit before investing in it," Javelin analyst Daniel Van Dyk told the WSJ.
The company's reticence is in part due to questions about whether the general banking public is willing, or even able, to submit to regular biometric scans in order to access their hard-earned cash.
Regardless, companies like Citigroup are in the proverbial catbird seat since young people think national banks offer the best mobile services.
(Score: 2) by NotSanguine on Wednesday October 28 2015, @10:31AM
But I don't really see the value in using your phone for an iris scan.
I already use two-factor authentication (my card and my PIN) to use an ATM. I suppose it could be useful to use my phone as my ATM card, but I'd still want to have a PIN which exists only in my brain. It can't be stolen and, unlike an iris scan, you can't hold me down and take a photo of it.
I take precautions so as not to be shoulder surfed, so what's the value-add in exposing my phone to an untrusted device (the ATM) and using a *stored* iris scan which can be stolen with my phone.
Yes, a $5 wrench [xkcd.com] can probably get my PIN eventually, but short of that I'm not giving it up.
If I were a thief, I'd rather just steal the phone from the moron who stores his access mechanism (iris scan) on his phone. Blood spatter is a bitch to get off clothes.
Please let me know if I'm missing something important here. Folks over here at the old age home want to know.
In the meantime, get off my lawn!
No, no, you're not thinking; you're just being logical. --Niels Bohr