FNB un­veils mini ATM de­vice

Lesotho Times - - Business - Bereng Mpaki

FIRST Na­tional Bank Le­sotho this week un­veiled its lat­est Slim­line mini ATM de­vice to af­ford clients greater bank­ing con­ve­nience by ex­tend­ing the bank’s reach be­yond its phys­i­cal branch and ATM foot­prints.

The por­ta­ble de­vice which will be placed in ded­i­cated re­tail out­lets per­forms sim­i­lar func­tions to an ATM ma­chine ex­cept that in­stead of dis­pens­ing cash, the de­vice is­sues a cash voucher which the cus­tomer presents to a re­tailer for cash from the shop till.

FNB Le­sotho Chief Ex­ec­u­tive Of­fi­cer Martin Knollys said the Slim Line de­vice would bring bank­ing ser­vices closer to the peo­ple as it would in­crease the bank’s reach be­yond its ATM foot­print.

“The slim line has mul­ti­ple ben­e­fits to busi­ness and con­sumer cus­tomers,” Mr Knollys said dur­ing this week’s me­dia launch of the de­vice.

“There is a mas­sive ben­e­fit to our con­sumer cus­tomers be­cause these de­vises will be based in­side re­tail out­lets in ar­eas where FNB and per­haps other banks have ab­so­lutely no foot­print. This means that to a cus­tomer, they now have an ATM ser­vice in ar­eas where they never used to have one be­fore.

“The ben­e­fit that it of­fers to the re­tailer is that it con­sumes all of the re­tailer’s cash, so that the cost of cash to a re­tailer comes down quite sig­nif­i­cantly be­cause the cash the re­tailer would have oth­er­wise had to move to the bank has gone to the cus­tomer,” Mr Knollys said.

He added that the de­vice would also bring down the cost of bank­ing to the cus­tomers since there were no with­drawal charges in­volved.

Mr Knollys said the Slim­line was likely to be­come a dom­i­nant fea­ture in the bank­ing land­scape.

“While it might not nec­es­sar­ily mean less branches, go­ing to into the fu­ture we will re­fer to this as the branch be­cause at­tached to this we might have two sales peo­ple and an inquiries per­son.

“So banks are look­ing for more in­no­va­tive ways of be­ing all over the place. We can­not de­ploy a hun­dred branches in Le­sotho if you con­sider the cost of such, but we can de­ploy hun­dreds of Slim­line de­vices around the coun­try,” Mr Knollys said.

He said the de­vice had al­ready been tested in coun­tries such as South Africa, Botswana and Zam­bia and had also been pi­loted in the coun­try for a while.

FNB Le­sotho Deputy CEO Mokhachane Mopeli echoed Mr Knollys’s sen­ti­ments, adding the de­vice would save cus­tomers time and money as they would not have to travel to banks for trans­ac­tions.

“This de­vice is go­ing to change a re­tailer from just be­ing a re­tail out­let to also be­ing a fi­nan­cial ser­vices provider,” Mr Mopeli said, adding the de­vice can per­form func­tions such as cash with­drawals, trans­fers and pay­ments, buy­ing pre­paid air­time and elec­tric­ity, view- ing ac­count bal­ances and mini state­ments, chang­ing PIN and e-wal­let trans­act­ing.

He said the de­vice could also be used to open sav­ings and in­vest­ment ac­counts. The Slim­line will com­ple­ment the Cash De­posita, which is a cash man­age­ment sys­tem de­vice in­tro­duced by FNB Le­sotho ear­lier this year.

Chief Ex­ec­u­tive Of­fi­cer of FNB Le­sotho Martin Knollys (left) and his deputy CEO Mokhachane Mopeli de­mostrate how to use the ma­chine.

Newspapers in English

Newspapers from Lesotho

© PressReader. All rights reserved.