US banking giant Citi is trialling Diebold’s new screen-less and cardless ATM that would enable customers to dispense cash with an eyeball scan or a code on a smartphone.
Known as Diebold Irving system, the new machine is currently being tested at Citi’s New York innovation lab.
To use the service, customers have to schedule a withdrawal through their bank mobile app.
On approaching the machine, which connects to the mobile app, customers will be identified via NFC, QR code or iris scanning biometrics.
After verifying identity, the machine would then automatically dispense the requested amount of cash.
According to Diebold, the technology will speed up the cash withdrawal process to less than 10 seconds, and will also ensure more security compared to traditional ATMs.
In addition, the machine is considerably smaller in size than normal cash machines.
Diebold executive vice president of self-service technology Frank Natoli said: "While digital channels continue to evolve, cash will continue to have a role in consumer transactions. That’s where Diebold comes into play — to bridge the digital and physical worlds of cash in unprecedented ways.
"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."