These offer a large touch screen with an integrated camera, a card reader for CHIP and PIN enabled cards with a numeric keypad.
Says head of self-service channels at FNB, Aziz Cassim, "We developed this as a unique technology to address access to banking in a way that deepens functionality and brings full digital banking to our remote sites.
"We sourced components from our established ATM suppliers and included comprehensive software upgrades to enable account interaction such as transfers and payments. In the process, we created a unique ATM designed specifically for emerging market and lower income needs. Slimline also has great potential across all our market segments from personal to business and commercial due to its deep digital banking ability."
Access to an ATM is a critical when enabling greater access to banking. According to the Finscope Consumer Survey of 2012, people in the lowest income groups spent nearly 100% more time accessing an ATM than people in middle and upper income groups. The survey showed that poorer customers took 47 minutes to access an ATM while better-off customers were able to do this in 23 minutes.
The bank is extending these ATMS across its African subsidiaries. Installations have started in Namibia, Botswana, Zambia, Swaziland and Tanzania.
While the machines do not dispense cash, they operate in the same way as the old Mini ATM; a slip is issued and then cashed at the retailer's till. The retailer's account is credited, lowering the risk and cost of holding cash in the shop.
"These machines represent a mutually beneficial relationship for the retailer, bank and customer. While our now-retired mini-ATMs offered typical kiosk banking or voucher banking, Slimline approximates online banking with PIN and image verification. We fully expect transaction volumes to escalate sharply over previous volumes on our Mini ATMs.
"The new devices offer a rich banking platform to customers in remote locations and we plan to expand services in coming months," concludes Cassim.
