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India ahead of some of the international banks in providing customer centric facilities


To increase security, convenience and customer satisfaction at the self-service channel, Banque Internationale a Luxembourg, the oldest private
bank in the Grand Duchy, has partnered with Diebold, to launch a cardless transaction solution that enables end-users to remotely program and withdraw cash via a smartphone from any of the more than 100 ATMs in BIL’s network. The solution provides a seamless and convenient mobile-enabled experience that gives consumers a more convenient and secure option to perform self-service transactions.

Using a smartphone, the end-user can pre-stage transactions by selecting the amount needed and the account from which it will be withdrawn. At the ATM, consumers authenticate themselves by scanning a unique quick response (QR) code that signals the ATM to dispense cash via an encrypted connection to the cloud. 999324-d39559ec-d01d-11e3-ae84-eacdfc097015

Person-to-person fund transfers are also made possible through the new smartphone application which can generate an eight-digit code that is then authenticated via the cloud. This code can then be sent to another user to make a one-time withdrawal in the amount pre-determined by the account owner.

A few months back, Commonwealth Bank of Australia had announced its plans to go ahead with the cardless cash withdrawal. Using the bank’s app, CommBank customers can authorise a withdrawal from any of the bank’s ATMs by providing them with an 8-digit cash code and a four-digit PIN. There is an upper limit for withdrawal and the person getting the cash has a 30-minute window to withdraw the money out after receiving the codes.

In India, ICICI Bank, Bank of India, HDFC Bank, IDBI and a few others have already launched mobile banking a.k.a cardless cash withdrawal this year.


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