Gulf African Bank unveils Cash Deposit Machines to enhance their operating efficiency and serve customers better

Kenya’s leading Islamic lender Gulf African Bank has unveiled a cash deposit machine (CDM) service that will enable clients to make deposits directly into their accounts at their convenience.

A CDM is a self-service terminal that will allow the bank’s customers make cash deposits directly into their primary and secondary Gulf African Bank accounts. The machine verifies the currency notes being deposited and asks for confirmation of the amount being deposited. Once the amount is confirmed, the deposit is immediately credited to the customer’s account, and the customers is issued a receipt slip with break-down of the denominations and total amount, confirming the transaction.

The machines will offer customers flexibility to deposit cash at a time they deem convenient. The machine quickly counts, validates, and denominates deposited currency. The deposited amount is displayed on screen for customer verification before it’s deposited and reflects immediately into the account.

The service is set to enable customers avoid queuing to make deposits in the bank’s branches. It will also exempt them from filling forms in branches. The service will also enable the bank’s customers to bank 24/7 outside normal banking hours in a fast and secure way. They will bank themselves, without any manual intervention of the branch personnel. The bank is keen on using digital technology to grow its target market, improve customer service and satisfaction while increasing its flexibility.

The unveiling comes at a time when the bank is implementing its digital banking strategy that is set to revolutionize their customer’s banking experience by leveraging the latest technologies in banking and customer service.

Speaking during the unveiling of the service, Gulf African Bank’s Managing Director Abdalla Abdulkhalik said, “Our customers can now save time by avoiding long queues and skipping the form filling process by simply using our 24 hr Smart Cash Deposit ATMs. Customers simply walk in and follow the simple cash deposit prompts displayed on the screen. Their money is then safely deposited, automatically reconciliated and a deposit slip generated for them immediately. They also easily get access to all their deposit information. Together with the bank’s other digital banking channels like Internet banking and mobile banking, customers will now enjoy round the clock banking services even during holidays”.

The bank has rolled out the services on two sites in Nairobi at their Kenyatta Avenue branch to serve traders and individuals around the CBD and surrounding areas and at their Eastleigh Main branch to serve the cash rich Eastleigh area. In Mombasa, the machines are located at the bank’s Bondeni branch to serve the fast paced location and Nkrumah branch, an area synonymous with importers and exporters with an ambitious plan to roll out the service to all other branches and offsite locations in order to harness the full potential of the machines.