A new ATM will be able to grant customers permission to withdraw money through a scan of their irises or a QR code on their smartphones.
The ATMs, designed by Diebold, would be screen-less and self-serviced, the company wrote in a press release. No debit card would be needed to access the machine, either. This “Irving” concept, as Dieblod refers to it, is being tested in Citigroup's innovation lab in New York.
The Wall Street Journal reports that ATM users would check into the bank's mobile app on their smartphone or tablet before actually going to withdraw money. From the app, they would specify the amount of money they'd like to withdraw, which would then allow the ATM to scan their irises or QR code to verify their identity and dispense the cash.
Card-less transactions can take about 15 seconds, as opposed to 45 seconds for traditional transactions.