ATM withdrawals? There's an app for that. By the end of the year, Wintrust Financial Corp. plans to deploy 180 ATMs that let customers withdraw cash without a plastic card by using the FIS mobile wallet installed on their mobile phone. Once the wallet app is opened and the user is authenticated, they'll scan a QR code on the ATM to access their cash. An electronic receipt is then delivered to the smart phone.
"We can't fall behind on the technology side," says Tom Ormseth, senior vice president of retail strategy at Wintrust, who will be joined by Doug Brown, SVP & GM, FIS Mobile, to discuss the technology at this year's ATM, Debit & Prepaid Forum.
The Wintrust pilot shows that banks are getting more serious about controlling mobile payments and commerce. "Cardless cash improves the customer experience. The smartphone becomes the remote control for the ATM, which is intrinsically better," said Brown.
Mobile transactions at ATMs are expected to become the fastest-growing service in the next five years, according to a June international survey published by the ATMIA.
Need to learn about this and other ATM innovations? This year's ATM, Debit & Prepaid Forum will offer first-hand account of the Wintrust pilot along with other in-the-weeds ATM content. Other sessions in the ATM track will include:
- The New Consumer ATM Experience: Before, During and After the Transaction
- ATM 2020: Bridge to Digital or "Branch" of the Future
- Making ATM and Banking Services Available to People with Disabilities
- Leveraging Video to Enhance the ATM Experience
- Merchant Cash Management
- Spotlight on the ATM Channel: New Technologies, New Services, and New Regulations