Bank ATMs Evolving
Banks’ automated teller machines (ATMs) are evolving to be equipped with new functions such as biometric authentication and issuance of check cards.
According to the financial industry on Dec. 5, Shinhan Bank plans to install more than 130 ATMs with biometric authentication function this month, which enable users to transfer, withdraw, and inquire information through the palm vein authentication with no card needed.
Shinhan Bank has been operating biometric authentication ATMs since last year. Other banks are also starting to install them.
In August, KB Kookmin Bank introduced Smart Teller Machine (STM) equipped with functions such as identification card scanning, palm vein authentication, and video consulting and installed them at 28 branches. Through easy authentication, it is possible to issue or reissue a new check card, issue a security card and OTP, and reissue a passbook and change passwords.
SH Suhyup Bank has expanded the palm vein authentication ATM service to all branches in October this year. In addition, IBK Industrial Bank of Korea plans to launch a digital video teller machine (VTM), which can carry out most of the tasks available at the bank counter.