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City National Bank in Los Angeles has hired two Comerica Bank veterans who cater to high-tech and biotech clients.
December 7 -
Wintrust Financial, a community bank holding company in Illinois, is piloting an app that lets customers pre-order cash at ATMs.
July 2 -
City National (CYN) in Los Angeles is eyeing acquisitions of both banks and asset management firms and its chief executive has no preference for one over the other.
April 20
City National Bank customers in select cities will soon be able to withdraw cash from ATMs while leaving their debit cards at home, thanks to a pilot program by City National (CYN) and bank technology provider FIS.
The FIS technology allows customers to pre-order cash on mobile devices using a secure smartphone app, according to the companies' joint Friday press release. Customers can then head to ATMs at their leisure, scan a QR code for the transaction on an ATM screen and receive cash and an electronic receipt.
To guard against fraud, the smartphone app stores customers' bank data in the cloud, according to the release. This prevents others from accessing customers' information if their phones are lost or stolen.
City National plans to debut the technology in Los Angeles, New York City and San Francisco early next year.
"With the proliferation of debit and access to cash at the point of sale, financial institutions are looking for ways to expand the utility of the ATM," Vince Hruska, City National's senior vice president and head of product strategies, said in the release. "Cardless cash access not only provides a secure and easy way to obtain cash from an ATM, but introduces to the client a new way of looking at ATM use."
City National, a $27.4 billion-asset company, is based in Los Angeles. FIS is headquartered in Jacksonville, Fla.
