First National Bank (FNB has become the first bank in South Africa to introduce a mini-ATM that uses biometrics as a means of validation for consumers.
Known as TouchPoint, the device functions as a self-service kiosk from which customers can conduct transactional banking such as withdrawals, transfers and payments, view statements, purchase airtime and electricity and perform card cancellations. In addition to this, the device also allows for new account opening by reading a consumer’s thumb print.
Over the years, FNB has been pioneering efforts to extend banking services to unbanked and underbanked communities through the roll-out of self-service digital platforms such as mini-ATMs and Automated Deposit Tellers (ADTs). The TouchPoint device has been successfully piloted in Gauteng since November 2017. The aim is to place the devices in branches, community retailers in townships and rural areas across South Africa. A total of 50 TouchPoint devices will be introduced in select townships during the next 6 months.
The bank’s partnership with small businesses in communities will also contribute to efforts to fully integrate small businesses into the banking ecosystem.