Banks are withdrawing from rural areas leaving a huge void in the market. This void can be filled with Retail-BCG's new ‘SME banking hub’.
Bank clients and SMEs can deposit or change their money at multi-service devices in various convenient locations.
This efficient and convenient system for small and medium businesses automates services allowing SME to bank their daily takings conveniently and with immediate credit. Devices are easily accessible and available 24hr for local businesses.
Couple this with the advantage that Banks maintain a presence in less populated areas means more services for customers.
"This new and exciting service fills the void left by the high street banks, ensuring rural areas retain their financial inclusion", Andrew Martin, CEO.
Functionality can include any variation of:
• Bag drop including mixtures of notes, coins and cheques
• Note deposit
• Coin deposit
• Note dispensing
• Rolled coin dispensing
• Locker support to allow documents, valuables and other services to the clients
• Or single deposit device for note and coin
Advantages for banks are:
• Convenient location with ease of access
• Avoid engaging with expensive cash collection services
• Real time cash credit for the SME
• Enhanced cashflow capability for SME
• Efficiency through automation
Contributed | what does this mean?