People’s Bank launches cheque deposit kiosk and cash recycling machine
The People’s Bank headquarters branch marks another milestone in their endeavor to provide an extensive service to the public by opening its newly refurbished premises on March 6th.
The branch was declared opened by the People’s Bank, Chairman - Nissanka Nanyakkara; on the invitation of CEO/GM Vasantha Kumar, Chief Executive Officer/ General Manager Designate - Rasitha Gunawardena together with Corporate & Executive Management staff of the bank.
A cheque deposit kiosk and cash recycling machine were also launched at the same time. A few chosen customers were given the privilege of using these two machines for the first time to mark the occasion.
People’s Bank is proud to launch the cheque deposit kiosk and cash recycling machine as further demonstration of how the Bank leads the banking industry with industry-leading milestones along its digitalization journey. These two new machines unique to People’s Bank and will prove to be a boon for customers seeking to conduct a speedy and convenient transaction, without waiting in long queues, filling in deposit slips or putting cheque in envelopes. Digitalization should deliver speed and efficiency to customers and this is the belief that led People’s Bank to launch these two machines. Moreover, the Head-quarters branch is strategically located in the heart of the commercial district, and the two new self-service machines will easily cater to the busy city customer footfall at the branch allowing the customer to experience a modern and spacious feel. This is yet another step toward People’s Bank realizing its fully digitalized banking vision.”
The cheque deposit kiosk allows customers to deposit single or unlimited cheques in multiple of 50 per transaction and only inserting the account number. The machine reads amount of the cheque/cheques via an Optical Character Recognition (OCR) system, validates and transmits the images to realtime back office operations. In single cheque images, the customer is able to see a scanned image of the screen followed by the receipt. In case of bulk deposit option, the screen shows the total amount and issues a receipt with details of deposit cheques.
Once the deposited cheques are scanned and processed by the Cheque Deposit Kiosk, images are directly send to Bank’s back office for clearance. Based on the cheque images and relevant MICR data, bank-owned cheques get cleared. Other Bank cheques will be sent to Lankaclear cheque image transaction system for processing as per their standards and guide lines. Also This Kiosk also offers online Bank and Branch validation at its end and automatic holiday identification. Also this Kiosk equipped to detect forged cheques and rejects damaged cheques.