NAB, Microsoft develop cardless, AI- and cloud-based ATM concept

National Australia Bank and Microsoft have collaborated to design a proof of concept ATM that draws on cloud and artificial intelligence technology

According to a press release, the cloud-based application, which uses Azure Cognitive Services, was designed to improve the customer experience by eliminating the need for customers to use physical cards or devices to withdraw cash from ATMs.

Instead, a customer who opted into the service would be able to withdraw cash from an ATM using facial recognition technology and a PIN.

The concept was developed in approximately two months by a small team from NAB's in-house innovation lab, NAB Labs, and technology division, and was designed purely to test the customer experience of using such technology, the release said.

The system does not store images, only the biometric data, which is held securely on Microsoft's trusted cloud platform; it will be erased following the experiment.

«[The experiment] just reinforced to me the need for banks to be simpler and faster for our customers; we want to deliver great connected customer experiences,» Patrick Wright, NAB Chief Technology and Operations Officer, said in the release. «Cloud technology allows us to take advantage of features and capabilities that are world-leading and enable us to deliver at pace for our customers.»

«Cloud computing and artificial intelligence present the opportunity for a new generation of secure, streamlined financial services to be developed and rapidly deployed at scale,» Steven Worrall, managing director of Microsoft Australia, said in the release. «NAB's innovation focus is concentrated on meeting the changing needs of the customer; this concept ATM that NAB and Microsoft are working on together provides an important glimpse into the future.»

Source: ATM Marketplace