Mobile ATMs are a hit in metro cities
Sumoth C, Head - ATM, Federal Bank, discusses the bank’s strategies in cash management during the lockdown:
Ravi Lalwani: What are the new problems that you have faced in cash management during the lockdown? Have ATM frauds risen or fallen during the lockdown?
Sumoth C:
There were problems in cash management during the lockdown. Movement of cash between our branches and currency chests was affected due to the restrictions imposed. As per RBI instructions, our branches are allowed to re-issue cash received from customers only after 48 hours of acceptance, resulting in branches holding the cash for a longer duration. We could, however, ensure that our ATMs were fully loaded with the required cash ATM frauds during the lockdown.
How is the bank optimizing cash availability across branches and ATMs in urban and rural areas?
We have a robust tool for capturing cash availability (denomination wise) at the branches and ATMs. The data is available centrally, including the denominations of the currency and this has enabled us to take appropriate steps for optimizing cash availability at the branches and ATMs.
How are you managing your ATMs and cash in containment and red zones?
We are using a monitoring tool for ATMs and cash in containment and red zones. We can ensure that the required level of cash iss made available in all our ATMs (onsite and offsite) with the help of our branches, currency chests and vendors. Our vendors are advised to take full protection to load cash in containment and red zones.
In which cities have you deployed mobile ATMs after the lockdown? What has been the customer response?
We have deployed mobile ATMs in 6 cities - Mumbai, Bangalore, Chennai, Pune, Coimbatore and Mangalore. These are intended for delivering banking services at customers’ doorsteps and thus helping them stay indoors as much as possible. We have also extended the facility of having ATMs on vans which move to different places in cities. Customers of any bank can withdraw cash from these ATMs free of charge. Customers who wish to avail the service for themselves or their neighbours can make requests and the the ATM van will be in the concerned vicinity. The facility can be used by apartment owners, housing societies and companies and all they have to do is to contact the bank branch. Our staff coordinates with the apartment owners, housing societies and companies to schedule the visits of the mobile ATMs. Public having accounts with any bank can withdraw cash from these mobile ATMs. We have received tremendous response from customers for this endeavour.
What is the volume of transactions at these mobile ATMs compared to regular ATMs?
During the lockdown period, the number of hits per ATM has considerably reduced as the public were reluctant to use ATMs due to the fear of infection and travel restrictions. However, on an average, the transaction volumes handled by mobile ATMs were less than the regular ATMs. But in metro cities, customers responded very positively, and in some locations, the volumes were higher at regular ATMs. We are intending to augment the routes of mobile ATMs to cover those areas where there are only few regular ATMs.
What measures have you adopted to sanitize currency notes and ATMs?
Our branches are keeping all inward remitted currencies wrapped in covers for 48 hours and then only issuing these to the general public. All ATMs and cabins are regularly disinfected, and we are also keeping hand sanitizers at these locations. High touch areas like handles of the entrance door, ATM side buttons, keypad, etc, are regularly disinfected. In case of mobile ATMs, the keypad is being sanitized after every transaction.