The Bank is targeting to migrate over 80 percent of transactions to non-branch channels by 2020/FILE
NAIROBI, Kenya, Sep 20 – Standard Chartered customers can now withdraw cash from Automated Teller Machines (ATM) without using cards.
The card-less withdrawal function has been introduced on the mobile banking application following a successful piloting phase and has been enabled on the Bank’s entire newly upgraded ATM network.
David Idoru, Head of Retail Banking, said to access cash, a customer will be required to generate a voucher number via the StanChart mobile banking App, which will then be inputted into the ATM to authorise the withdrawal.
Customers can either withdraw for themselves or they can generate a voucher to a third party who can withdraw the cash from any Standard Chartered Bank ATM at no cost.
“As soon as a client generates a voucher it is valid for two hours. If the Voucher number is not utilised within the two hours, the transaction is reversed and the amount credited back to the client. The service will attract the same charges as the current ATM Debit card withdrawal charges,” said Idoru.
Standard Chartered has spent over Sh200 million to upgrade its entire ATM network converting the machines to advanced Cash Deposit Machines (CDMs).
The rollout of the machines is part of the ‘Digital by Design’ business model, through which Standard Chartered Bank Group is investing $1.5bn to revamp its technology globally over three years.
The Bank is targeting to migrate over 80 percent of transactions to non-branch channels by 2020.
Through the ‘Digital by Design’ business model, the Bank is harnessing technology to enhance banking experience while at the same time improving cost efficiency.
During the rollout of the first phase in 2016, the Bank unveiled a mobile app, a revamped online banking platform and Cash Deposit Machines.
