- Continuing to look to technology to help cut costs, JPMorgan (JPM +2.2%) this year will unveil new ATMs allowing customers to pull cash or complete other transactions using the Chase mobile app, rather than a debit card.
- At first, customers will need to enter a code found through the app, but eventually - as with Apple Pay or Samsung Pay - just having an enabled smartphone close by will do the trick.
- The bank already has more ATMs than tellers, and what tellers that are left are more likely to be on the floor assisting ATM customers, rather than behind the counter.