Developed using Azure Cognitive Services, the cloud-based application has been implemented into an automated teller machine (ATM) to test how customers would react to using it.
The proof of concept aims to show how the customer experience can be improved by removing the need for physical cards or devices to access cash from ATMs.
Customers that opt in to use the service would instead be able to withdraw cash from an ATM using facial recognition technology and a PIN.
According to the two companies, the concept ATM system does not store images, only the biometric data that is used for the purpose of authenticating the customer, and the data is then held on Microsoft’s cloud platform.
Microsoft has emphasised that biometric data will be erased following the experiment.
The concept ATM was developed in approximately two months by a small agile team from NAB’s in-house innovation lab NAB Labs and technology division, and was displayed at the SWIFT International Banking Operations Seminar (Sibos) in Sydney last month.
NAB chief technology and operations officer Patrick Wright commented: “Cloud technology allows us to take advantage of features and capabilities that are world-leading and enable us to deliver at pace for our customers.
“Working with companies like Microsoft allows us to develop concepts like this.
“It’s a look into what the future might hold for the way our customers access banking products and services.”
Steven Worrall, managing director of Microsoft Australia, added: “Cloud computing and artificial intelligence present the opportunity for a new generation of secure, streamlined financial services to be developed and rapidly deployed at scale.
“NAB’s innovation focus is concentrated on meeting the changing needs of the customer; this concept ATM that NAB and Microsoft are working on together provides an important glimpse into the future.
“We believe AI will profoundly impact financial services and the sorts of solutions that banks will be able to deliver in the future.”
He continued: “For a consumer-facing application such as the AI-powered ATM we’ve developed with NAB, this sort of continuous AI innovation is important.”
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