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Banks are always looking for more secure means of customer identification in a bid to minimize fraud. We have already seen Indian bank ICICI enable customers to use their voice as a password for telephone banking. Now, Citigroup is developing an eye-scanning ATM that will enable users to withdraw money just by looking at it.

The ATM machine is being developed in collaboration with Diebold. It would use the customer’s mobile device as a screen and eliminate the need for a card reader, PIN pad or screen. The ATM is expected to reduce the average time it takes for customers to withdraw money from 45 to 15 seconds. Another model being developed by Diebold does away with the receipt printer, sending statements to the user by email instead.

What other industries could make use of eye-scanning technology to streamline services?