JN Bank rolls out cardless ATMs
JN Bank said on Tuesday that it has rolled out smart ATMs with e-deposit capabilities across its banking network, covering 30 locations in Jamaica.
The machines allow persons to make cash deposits to any JN Bank account without the need for a debit card. The investment in the machines was not disclosed.
Head of the eBusiness Department Ricardo Dystant said JN is partnering with IT developer Management Control Systems Limited to add loan payments for JN Small Business Loans Limited by the first quarter 2018. All three companies are members of Jamaica National Group.
"We have worked out the bugs and will add new features over time," Dystant told Gleaner Business, noting that cardless cash withdrawal and bill payments are coming soon.
Cardless banking, he added, is a growing global trend and offers increased security for users.
For cardless deposits, JN customers can have access to their funds in real time, that is, as the currency is deposited into the machine.
To make lodgements, customers enter the account number to which the funds are to be deposited, then enter their phone number. A text message is also sent to the cellphone of the account holder once the deposit has been made.
The first smart ATM was upgraded with e-deposit functionality in 2016, before the institution converted from a building society to a commercial bank. The test was done at JN's Half-Way Tree headquarters.
The ATMs that are being rolled out nationwide carry an additional cheque deposit feature, which reads the cheque amount upon deposit, and provides a photographed image of the cheque on the receipt provided, JN said.
Dystant said the bank has launched a Go LIVE campaign to promote use of the ATMs as "part of a broader digital strategy to ... reduce queues and wait-time in the banking halls" across JN's 34 locations.
The e-deposit feature only applies to JN Bank accounts.