Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
Diebold ATM Relies Solely on Mobile Authentication
NORTH CANTON, Ohio -- Studying the digital and social habits of today's younger generation led Diebold to develop an automated teller machine that relies solely on mobile authentication. The ATM is being piloted at the Diebold Federal Credit Union here.
There's no card reader, no card, pre-staged withdrawals are made on smartphones and everything is managed via Cloud computing. When a consumer scans a unique code at the ATM using a smartphone, the ATM authenticates the user via Cloud-hosted services to enable secure, cardless transactions. No card or PIN eliminates the threats of card skimming and shoulder surfing at the ATM, the company said.
Diebold and white-label mobile wallet provider Paydiant developed the cross-channel solutions and hold complementary patents on the technologies. "Diebold's Millennial-inspired ATM offers a new way to meet the needs of our members," said Dan Gann, CEO of the Diebold Credit Union. "They're readily downloading the mobile wallet application and adopting the technology. In addition, by offering a branded mobile wallet solution, we're reinforcing our connection to members' retail purchases and reminding them that we're enabling this convenience."
Like mobile devices, Diebold's ATM interface features similar navigation and touch gestures, such as flick and drag. The ATM also is paperless, delivering receipts via the mobile wallet application.
Additionally, the integration of the ATM with the Mobile Cash Access service allows consumers to pre-stage cash withdrawals on their smartphones. At the ATM, consumers authenticate themselves, and the ATM dispenses the preselected amount of cash. The service also allows financial institutions to provide a secure, institution-branded mobile wallet solution without installing additional hardware on ATMs or point-of-sale terminals, said Frank Natoli Jr., chief innovation officer at Diebold. "Together, the technologies provide a glimpse of the future of self-service banking for today's connected consumers."
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our twice-monthly print edition and to our free daily email.