USA-based international banking giant Citigroup is testing a pair of eye-scanning ATMs. These high-tech bank machines will scan customers' eyeballs with their smartphones, rather than ask them to key in their PIN.
It is estimated that the process of withdrawing cash can be shortened to only 10 seconds by eliminating the time it takes to key in your PIN.
The eye-scanning ATMs are still a long way away from being rolled out on a widespread basis due to understandable concerns about people and their willingness to give up their biometric information. However these machines are still very promising, why is why Citigroup has taken the lead in testing them out. After all, there's no question that these ATMs are more efficient than existing machines, and that they would reduce the chances of theft and fraud.
Eye-Scanning Bank Machines
Citibank's Eye-Scanning ATMs Will Be Secure and Efficient
Trend Themes
1. Eye-scanning Atms - Disruptive innovation opportunity: Implementing eye-scanning technology in ATMs to enhance security and reduce transaction time.
2. Biometric Authentication - Disruptive innovation opportunity: Expanding the use of biometric authentication to improve security and streamline banking processes.
3. Enhanced Efficiency in Banking - Disruptive innovation opportunity: Introducing technologies and processes that reduce transaction time and increase customer convenience in the banking industry.
Industry Implications
1. Banking - Disruptive innovation opportunity: Integrating advanced technologies, such as eye-scanning ATMs, to improve the banking experience and enhance security.
2. Biometrics - Disruptive innovation opportunity: Developing innovative biometric authentication solutions for various industries, including banking and security.
3. Security - Disruptive innovation opportunity: Creating advanced security systems, such as eye-scanning ATMs, to protect sensitive information and prevent fraud.