Regional electronics distributor, Mitsumi Group through its technology arm Komtel Kenya has unveiled a 24hour Automatic Cash Deposit Machine that will be expected to significantly reduce the long queues that are normally experienced in banking halls particularly during end months and school opening periods.
Addressing the media during the product launch, 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.
Besides cash deposit facility, the firm offers solutions to banks, other financial Institutions and retails on currency solutions, multicurrency banknote counters and sorter 2, 3 & 4 Pockets
Other services offered include coin counters, currency detectors, cheque writers, banknote strappers & banknote binders.
The physical security solutions from Methodex systems India includes vault room doors, emergency doors, Safes, Safe Deposit Lockers, Depository cabinet, Fire Proof Filing Cabinets etc.
In Africa, South Africa has rolled out the facility in all the Commercial Banks and Retails which has brought efficiency and convenience to customers.
Recently the Group invested Sh 2.5 billion in launching a mid level hotel with a capacity of 94 rooms in Nairobi’s Westlands area as it seeks to tap into the growing hospitality industry in Kenya.