subject: Skye Bank Launches Cash-deposit Atms [print this page] Skye Bank Launches Cash-Deposit ATMs Skye Bank Launches Cash-Deposit ATMs
Skye Bank Plc has introduced the first of its kind intelligent cash-deposit Automated Teller Machines
Skye Bank Launches Cash-Deposit (ATMS) in what is a pace-setting innovation in the nations financial services industry.
A statement issued by the banks Head of Corporate Affairs, Kayode Akinyemi, said the ATMs allow customers to deposit cash into their accounts anytime of the day and get immediate value. It also said customers are at liberty to deposit up to 200 notes at a time, without having to sort them according to denominations.
The bank also said the ATMs allow customers to deposit cheques, carry out foreign exchange transactions as well as withdraw cash, saying that with the innovation, it had moved ahead of the prevailing ATM technology where customers deposit cash at ATMs using envelopes which has resulted in fraud in some developed countries.
"Intelligent cash-deposit ATMs, on the other hand, do away with the need for staff to withdraw money from the ATMs to process as the process is entirely automated. The ATMs scan the bank notes on both sides to check for authenticity", the bank explained.
The bank further explained that notes not recognized by the ATMs would be returned to the customers, thereby making it impossible for fake notes to be deposited.
The statement quotes the Head of E-Channels, Chuma Ezirim, as saying that the ATMs would be deployed at the banks Head Office at Akin Adesola and at the Palms in Lekki. It said the ATMs would be on pilot run for three months before they are massively rolled out.
The bank said with the successful deployment of the intelligent ATMs, it has joined the league of select group of international banks that have successfully introduced the ATMs in their respective markets.
Such international banks, it said, include Bank of America, Wells Fargo, Wachovia, JP Morgan in the United States, and UnitCredit Banca in Italy.
Like the other intelligent cash-deposit ATMs, Skye Bank intelligent cash-deposit ATMs presently accept only one currency, the Naira. The ATMs accept the most widely used denominations of N100, N200, N500 and N1000.
The Group Managing Director/Chief Executive Officer of the bank, Mr. Akinsola Akinfemiwa, said the innovation and the recent power plant financing agreement with the Kaduna State government and the innovative internal revenue Generation-assurance scheme for Rivers , are part of the banks strategy to become a top five bank in the next three years.
