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NY FI to roll out cardless cash access

New York-based ALMA Bank will become the latest 'early adopter' of the new technology with its implementation of Diebold Mobile Cash Access.

October 8, 2015

ALMA Bank, a New York-based financial institution, is introducing Diebold Mobile Cash Access, according to a Diebold Inc. press release. The software solution will allow the bank's customers to initiate ATM transactions with a mobile device and without a bankcard.

With mobile cash access, ALMA customers will be able to prestage cash transactions right from their mobile device, designating the account to use and the amount to withdraw. After setting up the transaction, the customer simply scans a QR code on an ATM screen with the smartphone to complete the withdrawal.

The solution dramatically speeds up the transaction by eliminating the need to verify a card. It also reduces the risk of card skimming, fraud and theft, since customer information is not stored on the mobile device and is relayed to the ATM via a secure VPN connection, Diebold said.

"ALMA Bank ... is one of the first financial institutions in North America to capitalize on the mobile integration trend within the financial self-service industry," said Alan Kerr, Diebold executive vice president of software. "Our software solutions continue to bridge the digital divide and power the interactions that differentiate a financial institution's consumer experience."

Cardless transaction support and mobile phone integration are consumers' two most desired self-service functionalities, according to a 2014 global banking survey conducted by Ernst and Young Global Ltd.

"Our customers are digitally connected to the world through their mobile devices," said ALMA Bank President and CEO George Katsiaunis. "For this reason, we are continually looking for ways to enhance our mobile offerings to bring the next level of convenience to our customers."

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