The North Canton, Ohio, automated teller machine company Diebold Inc. is offering identity verification technology from Valid Systems of Fort Worth that can be incorporated into check-cashing services.
Diebold said Monday that it has added Valid's in-person authentication system to the portfolio of managed services the company offers to financial companies.
Tellers can enroll consumers in the system, which uses biometrics and online decisioning technology to help banks authenticate people trying to cash checks with a teller or at an ATM.
Diebold said the system will help banks promote check-cashing services to noncustomers, especially the unbanked, as a lower-cost alternative to check-cashing stores.
"Offering this service at the branch and ATM can generate a consistent revenue stream for the financial institution, while presenting a more cost-effective check-cashing option to the consumer," Charles E. Ducey Jr., Diebold's senior vice president of global development and services, said in a press release.
