The Ogaki Kyoritsu Bank in Japan is in the process of rolling out a palm scanning ATM that eliminates the need for cards.
Clients will be authenticated using only their palm print, four-digit PIN number and birthday rather than the traditional plastic bankcard.
The new cash machines will have biometric sensors installed in them, which will identify a person based on comparing their palm to the information stored on file. This is a bonus for anyone worried about losing their card.
The technology was developed in response to the 2011 Tohoku earthquake, as a large quantity of people lost all of their personal identification and were unable to access their bank accounts. This is a great way to move into the future.
Key Themes Behind This Trend
- Cardless ATM Technology
- The use of biometric sensors and palm scanning replaces the need for traditional plastic bankcards.
- Biometric Authentication
- The authentication of clients based on their unique palm prints, PIN numbers, and birthdays.
- Disaster Response Technologies
- The development of cardless cash machines in response to natural disasters provides greater accessibility for those who lost their personal identification.
Where This Applies
- Banking
- The banking industry can benefit from implementing cardless ATM technology through increased accessibility.
- Security
- The security industry can benefit from the use of biometric authentication technologies in reducing the risk of fraud and identity theft.
- Emergency Management
- The emergency management industry can benefit from disaster response technologies such as cardless cash machines that provide accessibility for individuals during natural disasters.
