Diebold, Inc. has announced in a press release the introduction of Irving concept, an ATM machine that dispenses cash to the consumer without the need of an ATM card.
Citigroup, Inc. is testing the new technology at its innovation lab in New York.
Diebold said in the press release that the new Irving Concept eliminates the card reader, PIN pad, and physical screen in the ATM machine.
Consumers instead will schedule their transactions in the ATM machine via their own smartphone devices.
Diebold adds in the press release that the new concept verifies the identity of the consumer via near field communication, quick response codes or iris scan biometric technology.
Once verification is done, the ATM machine will allow the consumer to proceed with the scheduled transaction and dispense the cash.
Frank Natoli, the executive vice president of self-service technology in Diebold, adds in the press release that the role of their company is to “bridge the digital and physical world of cash.”
“Our latest concepts embody a new era of banking and put the user experience at the top of the pyramid to connect consumers with their money when and how they see fit,” he said.