Citibank's Eye-Scanning ATMs Will Be Secure and Efficient

By: Rahul Kalvapalle - Oct 28, 2015
References: wsj & engadget
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.