National Commercial Bank Jamaica (NCB) is set to deploy intelligent banking machines (iABMs) at its 35 branches in the country, with an aim to reduce around one-third of its counter traffic.
The machines named ‘Bank on the Go’ are different from the traditional ABMs that dispense only cash.
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The new machines allow deposits under $100,000, with up to 30 notes per transaction. It does not require envelops and can scan the denominations on cash notes while being deposited. The machine, however, does not allow coins to be deposited.
The lender has already deployed the machine at the NCB Knutsford Boulevard branch, where around 9,000 cash transactions are done every month. The new machines are expected to cut the traffic to teller lines by around 33%, claims the bank.
NCB retail banking assistant general manager Stuart Reid was quoted by The Gleaner as saying that the iABMs are being installed at five branches initially, at the University of the West Indies, Duke Street, Oxford Place and Knutsford in Kingston and at Portmore in St Catherine – all of which will have kiosks open to the public by December.
In addition to cash deposits, the machines also permit credit card payments, bill payments and other transactions.
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By GlobalData
