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This ATM solves the worst thing about ATMs

Citigroup Beats Estimates Despite 12 Percent Decline In Net IncomeCitigroup Beats Estimates Despite 12 Percent Decline In Net Income

A new ATM currently being tested by Citigroup would allow consumers to withdraw money with an eyeball scan or a smartphone, replacing the need for a physical card.

The technology is one of two platforms being tested by ATM maker Diebold (DBD). The screen-less, self-service concept called “Irving” requires no card and is being tested by Citi (C) at the bank’s innovation lab in New York.

Diebold is testing two concepts. “Irving” features include iris-scan technology and uses the screen of a consumer’s mobile device, while card readers, PIN pads and the physical screen of the ATM are all eliminated. Diebold says cash withdrawals could be completed in 10 seconds or less, since the authentication is connected to the consumer’s smartphone. But as The Wall Street Journal notes, it remains to be seen if consumers will be willing to allow banks to scan their eyes as a form of identification.

The second concept Diebold is considering is called “Janus.” That’s a dual-sided, self-service ATM that can serve two customers at the same time. It also eliminates traditional card readers. Janus also doesn’t feature a receipt printer – instead, receipts are sent via email or text. Video conferencing is also available if a consumer needs immediate assistance from a teller for more complex transactions.