DAYTON, Ohio - (10/06/05) -- NCR Corp. said this week it hasintroduced biometric fingerprint technology to ATMs in severalSouth American countries and is preparing to introduce thetechnology on a wider basis in North America. With the emergingbiometric technology, the ubiquitous ATM card will eventually bereplaced by the mere touch of a finger or other biometricidentification methods, according to Mark Grossi, chief technologyofficer for NCR, who introduced the new ATMs Tuesday at the RoyalBank of Canada's Applied Innovation Symposium in Toronto. Thefingerprint identification system, which was developed at NCR'sAdvanced Concepts Lab in Dundee, Scotland, was demonstrated tocredit union and bank executives during the two-day technologyshowcase. The fingerprint ATM will simplify things for banks andcredit unions while reducing costs because it will eliminate theATM/debit cards, said Gross. And it will improve security becausefingerprints are impossible to copy. With NCR's fingerprint ATM,the user enters their Social Security number at the ATM, thenapplies their finger to the fingerprint reader. There is no PINnumber and no ATM card.
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Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.
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A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.
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The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.
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The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.
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Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.
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American Banker data found that those who upped artificial intelligence spending by more than 25% in the last year saw major improvements in employee output.
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