Glass
4th October 2012, 04:28 PM
An eye for a buy: bank looks to retina and fingerprint technology
ANZ has floated the idea of retina-scanning automatic teller machines and is considering using electronic fingerprints as part of an effort to beat rival banks in the realm of technology.
By the middle of next year, it would introduce 800 ATMs that allowed ''next generation'' deposit services, including coins, notes and cheques to be credited to customers' accounts immediately, the bank said yesterday.
It will plough about $1.5 billion into new technologies, including ATMs consumers could access through fingerprints or retina identification.
http://images.theage.com.au/2012/10/04/3689035/art-353-fingerprint-300x0.jpg Press here .. cash from an ANZ ATM could be a fingerprint away. Photo: Supplied
''We want to see what our customers' response is to which form of biometrics,'' said the chief executive of ANZ Australia, Phil Chronican, who added it was important to find the type of biometric identification customers were ''most comfortable with''. He said 67 per cent of those polled ''would be comfortable'' using a machine that scans an eye for ID verification, according to a Newspoll survey it commissioned.
Rival banks have unveiled a string of mobile-phone apps and devices geared towards mobile consumers in recent years in a broad move to meet rising demands for more convenient banking options. All of the major banks have unveiled iPhone apps, with Commonwealth Bank producing a wireless point of sale device called Albert.
Yet, for all of the changes at the front end of bank payment systems, some analysts believe a cashless banking future is many years off. An analyst for Intelligent Business Research Services, Guy Cranswick, said that while the banking sector is quick to embrace technology, consumers are largely fixed in their habits, which makes the wholesale adoption of new technology more difficult.
''It must be noted that in a mature 'banked' market such as Australia, where the majority of the population have a bank account, habits are locked in,'' said an IBRS report, Mobile Payments: Market Readiness and User Acceptance, released last month.
Futurist Ross Dawson said a cashless future was ''realistic to imagine'', with Australians keen in their uptake of technology.
''Before long we may use our fingerprints or even retina scans to make payments,'' he said.
Despite the push by banks into real-time payment technology, the industry still needs to upgrade and align its underlying infrastructure to allow real-time payments from bank to bank.
Link to article
(http://www.theage.com.au/it-pro/business-it/an-eye-for-a-buy-bank-looks-to-retina-and-fingerprint-technology-20121004-2729v.html)
My time using the banking system is coming to an end it seems
ANZ has floated the idea of retina-scanning automatic teller machines and is considering using electronic fingerprints as part of an effort to beat rival banks in the realm of technology.
By the middle of next year, it would introduce 800 ATMs that allowed ''next generation'' deposit services, including coins, notes and cheques to be credited to customers' accounts immediately, the bank said yesterday.
It will plough about $1.5 billion into new technologies, including ATMs consumers could access through fingerprints or retina identification.
http://images.theage.com.au/2012/10/04/3689035/art-353-fingerprint-300x0.jpg Press here .. cash from an ANZ ATM could be a fingerprint away. Photo: Supplied
''We want to see what our customers' response is to which form of biometrics,'' said the chief executive of ANZ Australia, Phil Chronican, who added it was important to find the type of biometric identification customers were ''most comfortable with''. He said 67 per cent of those polled ''would be comfortable'' using a machine that scans an eye for ID verification, according to a Newspoll survey it commissioned.
Rival banks have unveiled a string of mobile-phone apps and devices geared towards mobile consumers in recent years in a broad move to meet rising demands for more convenient banking options. All of the major banks have unveiled iPhone apps, with Commonwealth Bank producing a wireless point of sale device called Albert.
Yet, for all of the changes at the front end of bank payment systems, some analysts believe a cashless banking future is many years off. An analyst for Intelligent Business Research Services, Guy Cranswick, said that while the banking sector is quick to embrace technology, consumers are largely fixed in their habits, which makes the wholesale adoption of new technology more difficult.
''It must be noted that in a mature 'banked' market such as Australia, where the majority of the population have a bank account, habits are locked in,'' said an IBRS report, Mobile Payments: Market Readiness and User Acceptance, released last month.
Futurist Ross Dawson said a cashless future was ''realistic to imagine'', with Australians keen in their uptake of technology.
''Before long we may use our fingerprints or even retina scans to make payments,'' he said.
Despite the push by banks into real-time payment technology, the industry still needs to upgrade and align its underlying infrastructure to allow real-time payments from bank to bank.
Link to article
(http://www.theage.com.au/it-pro/business-it/an-eye-for-a-buy-bank-looks-to-retina-and-fingerprint-technology-20121004-2729v.html)
My time using the banking system is coming to an end it seems