Using technology called augmented reality, Addison Avenue Federal Credit Union is the first U.S. user of a new tool that allows members to visually locate ATM machines with an iPhone.
The phone's camera is pointed to the horizon to show where all ATM machines are in a several-mile radius and which ones are free and which ones charge fees, the credit union said.
Augmented reality is a technology that overlays digital content such as graphics or 3D models on real objects through any video output.
"The visual ATM locator channel is the first of its kind in the U.S.," said Lisa Murphy, product marketing manager for junaio, provider of the metaio application. "We are excited to see the technology being used in such a practical way and to add banking to the extensive list of categories we offer including culture, games, shopping, food, news, travel and nightlife."
The $2.4 billion credit union said while it provided the visual ATM locator channel, anyone can use it since it's not Addison Avenue specific. It displays every ATM in the country, but a perk for Addison Avenue members is that 28,000 ATMs free to them will be highlighted.
A version for the Android phone is coming soon, Addison Avenue said.