06 February 2016

Citi installs next-gen ATMs in Asia; issues NFC stickers in Czech Republic

25 January 2013  |  13456 views  |  3 Citi Web screen shot

Citi has begun rolling out what it calls the "first major redesign of the ATM" since the 1970s, linking the physical and digital banking worlds.

The bank has begun installing its Citibank Express machines in branches in Singapore, Malaysia and the Philippines with more Asian and global markets, as well as non-branch locations, to follow later this year.

The machines are equipped with an online banking connection, video-conferencing and biometric capabilities for customer identity authentication. A customer can start a transaction on a computer or mobile device and complete it on Citibank Express, and vice versa.

The new technology means that customers can do almost all of their banking without visiting a branch, including opening accounts and applying for loans, cards and cashier's cheques.

Expresses have split screens so that clients can see and speak with a bank worker on one screen while conducting business on the other. The machines also have near field communication capabilities as well as scanning and embossing functions to allow for future roll-outs of functions such as instant printing of cards.

Chris Kay, global head, ventures and incubation, Citi Ventures, says: "The ability to rapidly set up the machines and to add features as we develop them is a key characteristic of Citibank Express. We don't expect it to replace branches, but it will simplify our customers' lives, generate new value for Citi and help to transform the financial services industry."

Meanwhile, in the Czech Republic Citi is set to start issuing, automatically and free of charge, contactless payments stickers with a range of credit cards. Customers will be able to attach the stickers to objects such as mobile phones and tap them against point-of-sale terminals to carry out low-value payments.

Comments: (3)

A Finextra member | 25 January, 2013, 11:32

So I guess that these machines will be occupied by video conferencing customers when I would like to make a simple cash withdrawal. No point in lining up since the customer in front of me could take his time...

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Nicholas Millar - Vocalink - London | 28 January, 2013, 08:18

It looks to me that these are not cash issuing machines, but rather multi-function service machines.  Asia has been way ahead in cultural acceptance of these type of macines for a long time.  And I expect these align very well with the Citi Asian approach of an aspiration brand serviced exceptionally well at the premium end, with innovative service and product approaches for the mid market.  It will be interesting to see the success rates

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Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 28 January, 2013, 14:56

Wish Citi had used "Multifunction Kiosk" or some such name for this device instead of calling it ATM and triggering the obvious apprehension voiced by @FinextraM. I remember HSBC using a non-ATM name to denote similar equipment installed in the employee-less branch it opened on the shopping arcade of the Bank Street side of Canary Wharf tube station a few years ago. If I remember right, this "branch" had four regular ATMs for cash withdrawal and two of these multifunction devices for other purposes.

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