Diebold is hoping to bridge the gap between its 20th century ATM technology and the modern era’s mobile obsession with a new “millennial-inspired” machine that lets users make cardless transactions with their handsets.
At this week’s Consumer Electronics Show (CES) in Las Vegas the firm is showing off its new “conceptual ATM interface”, which borrows the touchscreen, navigation and controls familiar to smartphone owners.
To complete a cardless withdrawal, pre-registered bank customers scan a QR code on the ATM using their phones. When the devices sync via the cloud, a transaction screen appears on the handset where the customer selects the withdrawal amount. The cloud server then sends a one-time code to the phone, which the customer enters on the ATM screen to authenticate the transaction and receive cash.
Diebold argues that the system reduces consumer security risks related to lost or stolen cards, as well as the opportunity for skimming, while privacy is boosted because details are entered on the phone rather than ATM screen. The one-time authentication code expires immediately after completing a transaction.
As the lines between channels systems become blurred, and as ATMs become more integrated into these solutions, particularly mobile devices, it’s no surprise that the user interfaces and look-and-feel of these devices converge.
The seamless interaction between channels is becoming a reality, and will likely be a boon to the continued expansion of self-service channels in financial institutions of all sizes.
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