The COVID-19 pandemic has seen myriad challenges in the conduct of business across sectors, including business and finance. Thankfully though, technology has presented forward-thinking solutions including automated banking machines (ABMs). 

ABMs were in use before the pandemic struck but, as Nigel Holness, managing director of CIBC FirstCaribbean, notes, “the technology is ever-changing and always pushing forward in response to consumers’ needs and, with the restrictions on movement by curfews, ABMs are growing in popularity as a convenient mode for self-service transactions, greatly reducing the need to go into the bank. 

Speaking at the launch of a Smart ABM at the CIBC FirstCaribbean’s Half-Way Tree branch recently, Holness noted its full service capabilities. 

For example, the Smart ABM allows deposits in both Jamaican and United States dollars. Clients may put up to 50 bank notes into the machine per transaction without using an envelope, have immediate access to the cash deposited and receive a detailed printout of cash denominations deposited on completion of the transaction.

For cheque-related transactions, clients are able to deposit up to 10 cheques into the machine per transaction without using an envelope, see on-screen image of cheques deposited and receive a detailed printout, complete with images of the cheques deposited on completion of the transaction.

“ABMs are proving invaluable in keeping operations efficient, safe and reliant. Our customers have access 24 hours a day, seven days a week to their bank accounts from anywhere,” Holness said.

“They can make deposits, withdraw cash, pay bills, transfer money between accounts. Anybody with a credit or debit card can do business at an ABM.”

He predicted that “while the new normal brought on by COVID-19 has converted the most technology-resistant customers into believers, ABMs are the facility of choice now and will remain popular even after the pandemic has subsided.