Victoria Mutual to roll out upgrades
Victoria Mutual Building Society (VBMS) is to roll out a suite of upgrades to its online banking platform as well as in-branch offerings come October, allowing its members to make transfers to other local and international banks.
The mutual advised clients of the impending changes, via an email blast earlier this month from newly installed President and Chief Executive Officer Courtney Campbell, as measures to be undertaken to improve the society's services.
Campbell said the society has not yet made its application to the central bank for approval of the new offerings, "but we have enough time to do that," he told the Financial Gleaner.
VMBS is banking on the regulator to return a non-objection response to its request, he said.
Alongside the introduction of third-party transfers to other local banks and wire transfers to overseas financial institutions, VMBS said it would be enhancing its existing online banking platform. Kiosks with Internet banking capabilities will be added to all branches outside of Kingston. And more automated banking machines and cheque-deposit boxes will be added.
However, Campbell was mum on the level of investment being made.
There are currently 15 VMBS branches, 10 of which are outside the Corporate Area.
The kiosks will allow members to pay bills to more than 30 service providers, a service that was previously only offered through the online platform.
VMBS also intimated that changes to its mortgage application process are also pending.
"We will deliver an enhanced experience for persons applying to the building society for mortgages," the society said but did not clarify.