news.cuna.org/articles/109261-news-of-the-competition

News of the Competition

January 29, 2016
CHARLOTTE, N.C. (1/29/16)--Bank of America (BofA) is planning to roll out card-less ATMs, according to a recent report. The Charlotte, N.C.-based big bank has dedicated considerable resources to developing machines that only will require smartphones for consumers to withdraw money, a person familiar with the bank’s dealings told CNBC.com (Jan. 28). Though, the ATMs won’t only provide cash. BofA’s vision also includes that the machines will allow customers to accept payments from credit card customers, cash checks and withdraw varying denominations of currency. The bank plans to pilot the machines starting next month in San Francisco, Silicon Valley, Charlotte, New York and Boston. The move follows that of BMO Harris Bank, which launched card-less ATMs for customers last year, and Wintrust Financial--based in Illinois--which began offering such technology using QR codes in 2013. JPMorgan Chase recently announced it would pursue similar technology as well. It was announced at the Consumer Electronics Show that the Citibank Innovation Lab is testing a screenless ATM with biometric iris-scanning technology …