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Business Reporter      

STANBIC Bank Zimbabwe has embarked on a USD Cash Deposit Machines rollout across the country as the leading financial services institution continues its innovative digitization journey.

The machines allow anyone to deposit cash into a Stanbic Bank account at any time of the day, round the clock, including weekends.

Stanbic Bank head of personal and private banking, Mr Nelson Muhau, said the state-of-the-art cash deposit machines can be utilized without a bank representative or teller by simply following the promptings once one starts the process of depositing.

Mr Muhau said the institution is amongst the first in the country to roll out these devices that can take deposits 24/7, 365 days a year.

“The game-changing machines have a variety of benefits, chief among them being 24 24-hour and 7 days (24/7) access to deposit; safe, fast, and effective bulk deposit services with real-time updating of one’s balance, convenience and support through our various 24-hour customer service platforms,” he said.

Mr Muhau said the machines are already available at selected branches in Harare, Bulawayo, Gweru, and Mutare.

“The machines are designed for pure convenience. Our customers will not have to worry about missing the official bank operating hours to make their deposits. Additionally, they can deposit even on Sunday without any hustle or pressure,” he said.

“Stanbic Bank clients no longer need to enter the banking halls as the machines are situated next to ATM machines and the depositing process is self-service, while there will be a security guard in attendance for the protection of depositors.”

Mr Muhau said the machines were part of Stanbic’s strategy for innovation underpinned by digitisation.

He said the Standard Bank Group subsidiary adopted a digitisation strategy years ago aimed at staying on the pulse of future technological advancements needs and the cash deposits machines were part of that drive.

Stanbic Bank’s digitization exercise is in line with world-wide technological advancement trends within the financial and non-financial institutions aimed at enhancing ease of banking to its customers.

As part of its digitization strategy, Stanbic Bank launched contactless debit cards and POS machines becoming the first financial services institution to introduce this highly secure innovative technology into the Zimbabwean market.

Apart from the “contactless” debit cards and point of sale machines, Stanbic bank, says it has stepped up functionality of FCAs on its digital banking platforms in addition to launching a technologically advanced application, which allows account holders to pay bills and make in-store purchases on their phone using QR code scanning through its SlydePay app.

“All these products are part of a well-thought out digitization strategy, which offers convenience to customers and ensures that clients are beneficiaries of quality banking technologies,” said the company.