New ATMs at Kenya Commercial Bank

February 15, 2010
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, NAIROBI, Kenya, Feb 15 – Kenya Commercial Bank will spend close to Sh70 million to install 13 new state-of-the-art Automated Teller Machines (ATMs) across the country.

The bank’s Chief Executive Officer Martin Oduor-Otieno said the “intelligent” ATMs were an upgrade of the previous system where customers had to put cash in an envelope, which would later be collected by bank staff and deposited manually into an account.

“In this one here, you take the actual cash notes in any denomination, feed into the machine and that updates your account directly,” Mr Oduor-Otieno said.

The new ATMs, he added, have the ability to verify the value of the cash being deposited, validate the currency and even reject fake notes or old and unusable notes.

The move aims at capitalising on the bank’s core banking system, T24, in an effort of upgrading its service delivery infrastructure and offer technologically driven products and services to its customers.

Speaking during the launch of the first “intelligent” ATM at the bank’s headquarters on Monday, Mr Oduor-Otieno said the new machines will have the capability of handling Kenya shillings and US dollars.

“The machine accepts currency notes of any denomination, either singularly or in multiples,” he said adding it hopes to provide customers 24-hour access to a reliable deposit facility.

The bank plans to put up a further 12 machines across the country as well as 60 more ordinary ATMs in 2010.

Mr Oduor-Otieno said the bank is also in the process of introducing internet banking in the coming months as part of its growth strategy.

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