In what looks like a major breakthrough in automated transaction machines and point of sales transactions, one of the second generation banks, First City Monument Bank (FCMB), has introduced an array of transactions for customers.
This innovation can be used through the use of fingerprints and Bank Verification Numbers (BVNs).
This followed the introduction of paperless transactions within the bank’s over 200 branches in Nigeria. With this innovation, customers no longer require deposit slips, withdrawal booklets, or cheque books to carry out over-the-counter transactions.
In addition, FCMB customers now have the opportunity to enjoy cardless banking experience by just using their fingerprints to withdraw and deposit cash at 575 select biometric Automated Teller Machine (ATM) points of the Bank spread across the country and via biometric Point of Sales (PoS) terminals available within the bank’s branches.
Beyond this, the 575 biometric ATMs of FCMB can be used by customers for intra and interbank transfers as well as change of PIN and data update. The simple, convenient and secure cardless services are available for use when customers do not wish to go out with their debit cards or their accounts are inaccessible due to loss or damage.
With these innovations, FCMB has again taken a bold step towards driving value-added digital banking solutions in Nigeria that would significantly promote financial inclusion.
Explaining the new addition, the executive director, Retail Banking of FCMB, Mr. Olu Akanmu, described it as another turning point and milestone in the digital transformation drive of the lender.
“The FCMB cardless biometric transaction on ATM is a pioneering innovation in digital banking in Nigeria that provides wider access to ATM usage for many more people who may not have debit cards. It delivers greater financial inclusion. Its biometric identity factor also delivers enhanced security and convenience for customers, taking their digital experience to the next level,” he said.