Companies

All StanChart ATMs to take cash deposits from late April

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Lamin Manjang Standard Chartered CEO. FILE PHOTO | NMG

Standard Chartered Bank Kenya is replacing all its automated teller machines (ATMs) countrywide to allow for cash deposits in dollars and Kenya shillings.

The bank has undertaken the second phase of its digitisation process by putting in advanced cash deposit machines (CDMs), which is expected to cost Sh200 million.

“We have already deployed 18 CDMs and will add another 17 machines before end of this month. We have started with the high-traffic points in Nairobi and Mombasa but we intend to replace all the 98 ATMs by end of April,” said Lamin Manjang, the Standard Chartered CEO. 

In addition to the traditional cash dispensing function, the CDMs accept cash deposits in Kenya shillings and US dollars in real time, saving clients the inconvenience of visiting the banking hall to deposit cash.

“The strategy aims to develop digital banking solutions not only to transform client experience but also to provide them with the highest levels of security.  We are planning to migrate over 80 per cent of our transactions to non-branch channels by 2018,” said Mr Manjang.