I&M Bank Rwanda Plc has deployed 12 new ATMs with Near Field Communications (contactless) to supplement its existing ATM network to facilitate customer service and to avoid inserting cards and minimizing contact at the cash points.

This is one of multiple ongoing adjustments in the bank’s digital offerings in an effort to introduce the latest technologies to improve customer convenience and offer value.

While most would wonder why a bank would invest in ATMs when the tide is moving to cashless, Paul Sagnia, the lender’s Chief Operating Officer said that they are seeking to increase services one can access from ATMs beyond cash out services.

Sagnia told The New Times that the new technology ATMs will serve to increase transactions clients can make without needing to walk into a banking hall; including funds transfer.

The new ATMs will serve as self service outlets further improving customer experience, he said.

I&M Bank's new contactless ATM. The bank has deployed 12 new ATMs with near-field communications (contactless) to supplement its existing ATM network to facilitate customer service. / Courtesy

The Bank has been on a progressive digital adoption journey which can be traced to 2018, when the lender introduced a digital platform, iClick which allowed clients to access a range of services including international funds transfers without needing to walk into a banking hall.

Over the years, the digital first approach has seen the Bank roll out new services virtually including account opening which has reduced the need for clients to visit the Bank.

The adjustments over the years, he said, have had a positive impact on the use of the new digital channels with the highest uptake being witnessed during the pandemic.

This, he said is as a result of setting up multiple avenues for service access including web, Application, USSD as well as having readily available customer service agents, a 6 days a week call centre with plans to make it 24 hours to provide insights and support to clients.

The Bank has also partnered with SPENN Technologies, a financial technology firm to avail a payment method built on blockchain technology.

The partnership in 2020 introduced a new savings product in the local market in a bid to drive up savings with unlimited withdrawal options and funds saved will earn a 4 per cent annual interest.

Partnership with local Telcos has also availed push and pull services allowing clients to link their accounts with their preferred mobile wallets.

"We have seen customer confidence in the new systems which has been characterized by exponential growth in usage of the platforms,” Sagnia said.

The lender noted that they have also boosted their staff capacity on digital financial systems including exchange programmes and benchmarking visits to the bank’s operations in other countries.

Officials from the lender say that in the near future they are set to debut Whatsapp banking in the local market further improving customer experience. The development is currently in testing and is set to be launched soon.

Sagnia said that they are also ready to work with other players in the financial technology services sector as well as business to integrate payment solutions, developing alternative billing solutions among other developments.

The continued adjustments has availed viable options for users to get around aspects such as the contentious push-pull charges. For instance, clients with i-Click can transfer funds to their mobile wallets without charge.