Regional electronics distributor, Mitsumi Group, through its technology arm Komtel Kenya has unveiled a 24-hour Automatic Cash Deposit Machine that will significantly reduce the long queues experienced in banking halls during end months and school opening periods.
Komtel Kenya Limited General Manager Abdul Malik said the new Automatic Cash Deposit Machine (ACDM) which will be installed in banking halls, shopping malls, and ATMs lobbies will also offer flexible time for customers to deposit their money even after banking hours at no cost.
“We anticipate this technology to be 70% faster and more efficient when making a deposit as compared to depositing money through the teller counters, your dealings in cash are set to become much easier and convenient as the cash deposit machine will be a self-service workstation that will allow you to make deposits and payment transactions by cash without having to wait in line for hours or rushing to the bank during working hours”, Malik added.
Malik noted that all successful transactions will be immediately credited to the account and customers issued with an advice slip confirming their transactions. Customers will however, be required to know their account numbers or have ATMs before making the deposit.
He said the equipment is more reliable as hardware in terms of authentication and the inbuilt software is very flexible for customization to the Banks’ requirements. ACDM will be connected to the Bank’s core banking applications to get instant credit to the customer’s account.
“In Kenya ACDMs have been tried in the past years by some companies but with less success. We are however, committed to offer this technology to banks, financial institutions & retails with a flexibility of outright purchase & lease / rental options while under our maintenance services,” the General Manager stated.
The firm has heavily invested in qualified technical workforce to support and maintain the installations of the automatic cash deposit machine throughout the country. “Komtel Kenya expects demand for this technology particularly in tier 1 & 2 banks to rise in the next 12 to 24 months spreading to all bank branches and offsite locations and we plan to tap into the growing banking and retail sectors to realize growth,” he added.
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