To improve the security and speed of transactions of traditional ATM machines, Citibank is currently testing a new ATM prototype. Developed by Diebold with an integrated Iris scanner by Eyelock, the Irving machine uses new identification technologies.
The user will be expected to make his/her Money in physical form such as banknotes and coins. withdrawal request via an app. Thereafter, thanks to New Field Communication (NFC), Irving will connect to the user’s phone from a distance to retrieve the withdrawal information. Once connected to the phone, Irving will scan the user’s eye before releasing the requested cash amount in less than 10 seconds.
The process is expected to shorten lines at ATMs and discourage thieves from using “skimming” methods.
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