News

Absa to install multifunction ATMs as part of digital strategy

June 13, 2012

ABSA is rolling out a multi-million rand digital banking strategy in the quest to expand its market share.

The Barclays-owned bank announced that the initiative would include a new generation of ATMs with wider customer applications that would be mirrored across mobile and online banking channels, according to an article at BizCommunity.com.

"This is the most significant investment and overhaul we have undertaken in recent years and will be rolled out over the next three years," said the banking group's managing executive for digital channels, Christo Vrey.

Vrey said the bank's strategy had evolved from the basic ATM functions of cash withdrawals and checking account balances to a multi-pronged delivery channel embracing mobile and Internet banking. Absa also wants to divert foot traffic from branches to less expensive service channels.

Absa plans to replace up to 4,500 ATMs over the next three years. The new machines will offer updated capabilities such as deposit automation and a bill-payment function that would allow customers to make payments simply by scanning the bar code from their bill against the specially designed ATM panel.

For more on this topic, visit the multifunction ATMs research center.