News

A customer-friendly solution for retrieving retained ATM cards

March 13, 2014

In an age of increased emphasis on customer convenience, ATM card retrieval remains a most inconvenient process. Usually when an ATM retains a card for whatever reason, the accountholder must call the bank's helpline to find out where and when (up to seven business days later) to reclaim it.

Jojubanking believes it has found a way to eliminate the customer aggravation involved in ATM card retrieval. In a news release, the company said that its self-service mini card recycling module — the first in the world — lets customers reclaim their card right at the ATM.

The CRM takes the ATM user through a series of steps (determined by the bank) to verify the accountholder. With these steps successfully completed, the ATM returns the card to the customer on the spot.

Jojubanking said its new solution is a win-win for banks and customers alike. For the customer, it removes inconvenience from the card-retrieval process. For the FI, it helps to reduce the number of times the bank has to clear retained cards in ATMs, reducing service costs.

Jojubanking said in the release that the CRM has passed stringent testing by China Everbright Bank and Bank of Communications, and that following a successful trial, the two FIs plan a wider deployment of the CRM in phases throughout 2014.