FIS Enables Avidia Bank to Offer Cardless Cash Withdrawals
Earlier this week, Avidia Bank announced their collaboration with FIS to offer Cardless Cash ATM access to their customers. FIS is one of the leading banking and payments technology companies in the world that offers consulting and outsourcing services to financial institutions around the world.
Headquartered in Hudson, Massachusetts, Avidia Bank acts as a community bank and provides top of the line bank services to businesses and individuals across central Massachusetts and beyond through online access and full-service branches.
Once implemented, Avidia Bank will become the first banking institution in New England region in the United States to offer Cardless Cash withdrawal service to consumers. Commenting on the new service, Mark R. O’Connell, President and CEO, Avidia Bank told the media that they [the bank] are “are always looking for new ways to improve service and enhance the banking experience for our customers.”
“As the pace of banking speeds up, our customers want access how and where they choose. Cardless Cash is another solution to meet those needs,” he added.
With Cardless Cash, Avidia ‘s customers can access ATMs without any plastic cards. Instead, they can access their account at the ATM by using a smartphone app.
“Avidia Mobile’s Cardless Cash feature will enable 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 a eReceipt for the transaction on their devices,” mentioned FIS in an official press release.
Industry analysts believe that the Cardless Cash technology will help eliminate fraud as it eliminates the need for any physical contact of the plastic card. In addition, it will help customers withdraw cash faster, as they will not need to press multiple buttons in order to just make the withdrawal.
“Cardless Cash is one such advancement, making withdrawals simpler while simultaneously eliminating the risk of card loss or fraud,” said the Senior Vice President and General Manager of FIS Mobile, Douglas Brown.
While there are several other banks in the United States are offering Cardless Cash withdrawal service at the ATM, the technology from FIS will not generate any “temporary authorization codes” like other banks. Avidia Bank will ensure the security and privacy of their customers via the native smartphone app. However, FIS mentioned that users will need to sign up with their mobile wallet technology.