FNB customers are increasingly using electronic self-service channels to make cash deposits instead of going inside a branch. The bank noted that ATM deposits were four times higher than over the counter deposits for the second half of 2016.
Lee-Anne van Zyl, CEO of FNB Points of Presence, says “Automated Deposit Teller (ADT) machines have proved to be an efficient cash deposit channel for customers. This has subsequently minimising queuing time in branches and creates room to prioritise more complex transactions. Overall this trend has had a positive impact on teller activity across most branches as we see a steady migration to electronic deposits instead of in-branch processing.”
“ADTs are also convenient for customers with the ability to perform a variety of transactions such as pre-paid purchases or even applying for a funeral plan, with the added benefit of transacting 24/7. ADTs also have a positive impact in rural communities as they provide easy and more cost effective access to banking as an easy channel for small cash deposits. Our devices also cater for cardless deposits which allow any banked or non-banked customer to make a deposit at the ADT without a card being present, driving additional transactional volumes on electronic devices.”
Transactional volumes at branches have decreased by 10% year on year while the number of ADT transactions has been on a steady rise.
“Since introducing our first line of ADTs in 2008, we channelled resources towards customer education in relation to using ADT’s. Not only are they cheaper to use but are easily accessible because we have increased our total foot print to 1800 units across the country,” adds van Zyl.
FNB will continue efforts to migrate more customers towards easier and efficient transacting channels. Over time the bank aims to increase its ADT foot print so that transactions are not entirely dependent on branch operating hours.