Interoperable Cardless Cash Withdrawals (ICCW) functionality in ATMs Qorus-Infosys Finacle Banking Innovation Awards 2024

Submitted by

Union Bank of India

Premium

19/06/2024 Banking Innovation

To provide more convenience to users, Inter-operable Card-less Cash Withdrawal (ICCW) on ATMs via UPI is another way to withdraw cash using any Bank ATM through UPI by scanning QR code at ATMs, without using any debit card.

Innovation details

Country
IndiaCategory
Reimagining the Customer ExperienceKeyword
Customer experience, Customer service, Branch & Physical distribution

Innovation presentation

To provide more convenience to users, Bank has implemented Interoperable Cardless Cash Withdrawals (ICCW) functionality in the existing ATMs via UPI. This is another way to withdraw cash using any Bank ATM through UPI by scanning QR code at ATMs.

ICCW (Interoperable Cardless Cashless Withdrawal) can provide more security by reducing card-based frauds such as cloning, shoulder surfing and skimming as well as negating the fear of loss of card. Additionally, ICCW via UPI can be a game changer as it will provide added convenience to the end users especially the new generation which is accustomed to making digital payments via smartphones Currently, Bank has implemented this functionality in 2000+ ATMs without any downtime and customer service disruptions.

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