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TheStreet Open House

City National Bank To Introduce FIS Cardless Cash Access At ATMs

Stock quotes in this article: FIS

FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, and City National Bank, one of the nation’s premier private and business banks, today announced an agreement to pilot FIS Cardless Cash Access at City National ATMs in Los Angeles, New York City and San Francisco.

City National plans to introduce this emerging technology to clients in its three largest markets early next year, continuing FIS’ successful rollout of this solution at banks and ATMs in key locations across the United States. The solution enables consumers to interact with the ATM from the privacy and security of their mobile devices, stage a transaction before stepping up to the ATM and then receive an eReceipt for the transaction on their devices, eliminating paper receipts.

“Consumers continue to look for innovative new ways to engage with their financial institutions via mobile devices. At the same time, they demand additional security to keep their information safe,” said Doug Brown, senior vice president and general manager, FIS Mobile. “Information from Cardless Cash Access is maintained in the cloud, so card data cannot be accessed if the consumer’s phone is lost or stolen – making this a faster, safer, more secure way to make a withdrawal.”

FIS Cardless Cash Access securely authenticates a user on his or her smartphone. Then, the consumer selects the account and amount of the withdrawal right on the phone. When at the ATM, the consumer scans a QR code on the ATM screen and, within seconds, the cash is dispensed and an eReceipt is sent to the phone.

“City National’s mission is to provide the ultimate banking experience for successful entrepreneurs and professionals,” said Nate Wehunt, senior vice president and digital channels manager, City National Bank. “Delivering Cardless Cash Access to our clients is part of that strategy, putting them on the forefront of mobile innovation, while keeping their information safe.”

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