New consumer bank technologies on the rise

It's still unclear if swipe cards and envelope-less ATM deposits will take off. There is a lot of testing going on, and the early results seem favorable. Waving a card--versus the humdrum of a swiping, waiting, signing--can really boost productivity at the point of contact. Similarly, envelope-less ATMs can really boost transaction speed. A customer pretty much instantly receives a receipt that includes a copy of the inserted check (thanks to Check 21) or the number and denomination of the inserted cash. The machine counts the money. The big drawbacks are cost and security (whether grounded or not). For this to work, retailers are going to have to spend for the hardware on their end. Right now, it isn't cheap. And surveys show that people still do not trust the wave cards to keep data safe.

For more on this:
- Here's an article from msnbc.com

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