Thursday 2 July, 2020

Jamaica Bankers Association promotes digital banking platforms

Jamaica Bankers Association encourages digital banking.

Jamaica Bankers Association encourages digital banking.

The Jamaica Bankers Association (JBA) is urging Jamaicans to adopt the growing digital trend in banking by taking advantage of the several fee-free and low-cost banking options available.

Solutions such as digital banking, utilising mobile and online platforms, intelligent ABMs, ATMs and a host of others, have been introduced by several of the island’s major banking institutions to provide customers with convenience, flexibility, and low-cost banking alternatives.

According to JBA President, Jerome Smalling, digital banking is becoming a global standard and if Jamaica does not get on board with this trend, the country could fall behind.

“Globally, online banking is where the standard is at. Gone are the days when persons were required to leave work and go in-branch to conduct a transaction. With the introduction of digital channels, we have so many convenient ways to do business nowadays,” Smalling said  

Member banks within the JBA, such as the National Commercial Bank Jamaica Ltd. (NCB) and the Bank of Nova Scotia (Scotiabank), have both invested millions of dollars in developing and implementing digital banking solutions such as their advanced Automated Banking Machines that not only allow customers to withdraw money, but can take deposits, loan repayments, mobile top-ups, fund transfers and a host of other services.

Nadeen Matthews-Blair, Chief Digital and Marketing Officer at NCB, explained that the NCB Bank on the Go intelligent ABMs and Kiosks were available to customers 24 hours a day, with many of the transactions at no cost to the customer.

“Our iABMs were developed to exceed the customer’s expectation, providing them with the option of conducting low-cost and free banking transitions. The machines are intelligent and multi-functional, so customers can process bill payments, cash advances, account updates, embassy letter requests and a host of other things,” she said.

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