FNB expands ADTs amid demand
JOHANNEBSURG, (CAJ News) -FIRST National Bank (FNB) has announced an expansion of Automated Deposit Terminals (ADTs) following the positive uptake in the use of the facilities.
FNB was the first bank in South Africa to introduce ADTs, devices with electronic depositing capabilities, more than three years ago.
Since inception, the bank has more than doubled the number of ADTs deployed and is showing a volume growth of 25 percent year on year.
Lee-Anne van Zyl, Chief Executive Officer of FNB Points of Presence, said ADTs allowed FNB to expedite our migration strategy from in-branch banking to the convenience of 24/7 hour banking via electronic channels.
“We have seen a steady decline in over the counter deposits in branch, as our devices gain popularity. In addition to safe and hassle-free banking, our ADTs and ATMs offer customers a wide range of services which can now be performed at a device, as opposed to visiting a branch.”
The official said ADTs not only recycle cash that had been deposited, but also made it available for dispensing and withdrawals.
In addition, ADT devices can perform cardless deposits which allow any banked or non-banked customer to make a deposit at the ADT without a card being present.
The ADT device also offers a host of functionalities, including Cheque deposits, deposits into eWallet, transfers and payments, opening Savings and Investment Accounts and the option to apply for a loan.
In its latest annual report, FNB noted a 15 percent increase in online banking transactions, and a massive 7% jump in banking through its app, and a further jump of 25 percent in mobile transactions.
– CAJ News
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