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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: 4, Insightful) by urza9814 on Wednesday October 28 2015, @05:01PM
Who, exactly, are they polling? How young are these people, 16? Because I'm 26 and *everyone* my age seems to agree that, if you want service, you want a credit union. Of course a lot of people stick with national banks anyway because they plan on moving, and they want to be sure they'll have a branch wherever they end up. But that's literally the only reason I've ever heard anyone my age use for sticking with a national bank.
Then I try to explain that I'm still with the same credit union I joined in highschool, even though they haven't had a branch or even ATM within ~500 miles for four years now, and it's never been an issue. But people use major banks for the same reason they keep buying Microsoft. These companies maintain service levels just barely good enough to hold on through inertia.
(Score: 2) by fliptop on Wednesday October 28 2015, @06:16PM
I probably could've worded it like "young people shopping for a new bank..."
My bad.
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.