Centric receives award for mobile concept that uses beacons to withdraw money from an ATM without the use of a bank card
Miami – Today, Centric Consulting’s Mobile Withdrawal Solution was named a top innovation in the Citi® Mobile Challenge U.S. 2014, a groundbreaking technology developer competition designed to accelerate digital banking innovation. More than 60 teams – chosen from more than 700 submissions across 72 countries – presented innovations at events in Silicon Valley, New York and Miami.
Centric was awarded “Most Innovative ATM Solution” and received a $20,000 cash prize and opportunity to work with Citi. The team presented their concept in Miami on Nov. 14.
“Centric is truly honored to be an award recipient in the Citi® Mobile Challenge,” said David Andrade, Centric Consulting’s Miami Practice Lead and Mobile Withdrawal team member. “One of our goals at Centric is to revolutionize the mobile experience and this event was the perfect fit. Events like the Citi® Mobile Challenge are what truly drive innovation and improve consumer experiences.”
Centric’s Mobile Withdrawal Solution would enable customers to use a mobile phone to securely ask a parent or friend for money, have the request approved, and then withdraw the money from a Citi® ATM machine through the use of Bluetooth beacons, or wireless sensors, without having to use an ATM card. The app utilizes Centric’s BlueBeak development framework to:
- Connect family, friends and colleagues to facilitate the money transfer
- Find the location of the nearest ATM and provide turn-by-turn directions
- Send alerts and a one-time PIN when the customer gets close to the ATM for the withdrawal (using beacons)
- Provide general information about each ATM location
The Mobile Withdrawal Solution’s goal is to increase security for everyone, painlessly. The combination of a known person in a known location with a recognized smartphone and a one-time PIN delivers four separate security elements to ensure the identity of the person withdrawing the funds.
The Centric team included Jason Miller, Chris Martinez, David Andrade, David Anderson, William Klos, Matthew Sheets and Graham Savage.
“The caliber of the presentations we saw from finalists at the Demo Day events was outstanding,” said Heather Cox, Chief Client Experience, Digital and Marketing Officer for Global Consumer Banking at Citi. “These developers are poised to help us transform the way banks innovate and we are so excited to begin working with them.”
About Centric Consulting and BlueBeak
Centric Consulting is a business consulting and technology solutions firm providing full-service consulting services. Centric’s expert consultants help clients tackle their toughest business challenges with innovative, balanced, and measurable solutions. With more than 500 employees in 10 cities across the U.S., Centric is known for helping clients drive operational efficiency, improve customer service, and increase profitability. Centric was founded in 1999 and is a privately owned company. Learn more by visiting www.centricconsulting.com.
For more information about how BlueBeak is connecting businesses and customers, please visit www.BlueBeak.com.
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