Cardless ATMs: The Standard Chartered Bank Kenya has upgraded all its ATMs to enable customers make card-less withdrawals and transfer of funds.
The upgrade, which cost Sh. 200 million, will allow customers to make withdrawal requests via the mobile phone banking platform, which generates a special code to be used to withdraw cash at the ATM.
“The service will attract the same charges as the current ATM debit card withdrawal charges,” said head of retail banking David Idoru in a statement. Clients can also share the code with third parties to withdraw cash from another ATM without revealing their passwords at no additional fees.
This may save them time and charges they incur in when they transact on mobile platforms such as M-Pesa.
“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,” he said.
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.