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VENO NEWS: COVID-19: FIRSTBANK LAUNCHES NEXT-GENERATION ATM, SPEARHEADS INNOVATION IN ELECTRONIC BANKING IN NIGERIA
Date: 29-11-20

In the light of COVID-19, FirstBank has launched the FastTrack ATM, a Next Generation ATM and first of its kind in Africa, designed to promote financial activities on the ATM devoid of any form of physical interaction with the machine. The introduction of the FastTrack ATM which is done in partnership with Inlaks enables customers carry out cash withdrawals without having to touch the interface of the ATM.

With the FastTrack ATM, widely referred to as Touchless Solution, the customer carries out the transaction by using his or her mobile phone to perform the needed steps designed originally for implementation on the ATM. By using oneâ€™s phone, the transaction is carried out â€“ in advance â€“ through the Bankâ€™s USSD or mobile banking option. Upon the schedule, the customer visits the FastTrack ATM to complete the transaction by tapping a contactless Near Field Communication (NFC) card on the ATM to withdraw his or her cash.

FirstBank customers can now leverage the real-time mobile banking capabilities of their cellphone to activate cash withdrawals at the FastTrack ATM. The ATM solution is the Bankâ€™s response to control the spread of COVID-19, whilst promoting the safety of customers that carry out transactions at the ATM.

Speaking on the launch of the FastTrack ATM, Dr. Adesola Adeduntan, CEO, First Bank of Nigeria Limited said â€˜at FirstBank, we are driven to provide seamless financial solutions to ensure our customers are able to timely carry out their transactions in safe, secured and efficient ways, thereby putting them ahead in digital banking, not just in Nigeria but Africa. We are delighted to set the pace regarding the use of the Next Generation ATM in Africa which enables customers to use their mobile phones to remotely initiate ATM-based cash withdrawals via our *894# USSD banking or FirstMobile application. At the core of our strategy lies innovation which is critical to adapting to the new normalâ€™.

According to Olufemi Adeoti, Managing Director, Inlaks, â€œgiven that consumers are more adaptable to mobile technology Inlaks â€“ the Africaâ€™s leading Information Technology Solutions provider together with Hyosung ATM OEM are partnering with FirstBank to introduce the first fully compliant COVID-19 FinTech ATM. This is in alignment with the â€˜new normalâ€™ desired customer experience which includes digitalization and delivering a secure contactless cash access to the bank's FirstMobile customers for better user experience, simplicity, speed and convenienceâ€™â€™

In recognition of its giant strides at promoting electronic banking in the country, FirstBankâ€™s mobile banking application â€“ FirstMobile â€“ was recently awarded the Best Mobile Banking App award 2020 in the Global Finance Best Digital Bank Awards 2020 as well as 2019 Best Mobile Banking App by Global Business Outlook.

FirstBank has been at the forefront of promoting electronic banking solution in Nigeria. In 2017, the Bank was recognized as the first financial institution in Nigeria and the West-Africa sub-region to issue 10 million ATM cards to customers across the country. The bank was the second in Africa to achieve the milestone.

These feats are achieved through the trusts in its industry leading innovative banking solutions by over 10 million customers on its USSD *894# banking platform and over 4.1 million customers on its FirstMobile banking application, endearing the Bank to process about 30% of card transactions in the entire banking industry in the country. Also log onto www.venointernational.com

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