Kiosk Banking

Kiosk banking is a banking service that allows customers to access basic banking functions through self-service terminals located at retail stores, and convenient locations. These kiosks are equipped with computers, biometric devices, and other necessary hardware to enable various banking transactions.

Key Features of Kiosk Banking:

• Accessibility: Brings banking services closer to people, especially in rural and under-served areas.
• Convenience: Customers can transact at their convenience without visiting a bank branch. Basic Banking Services: This typically includes cash deposits, withdrawals, balance checking, fund transfers and mini-statements.
• Biometric Authentication: Ensures security through biometric identification.
• No Frills Accounts: Often associated with opening no-frills accounts for the unbanked.

Benefits of Kiosk Banking:

• Financial Inclusion: Promotes financial inclusion by reaching out to the unbanked and under-banked.
• Cost-effective: Operational costs for banks are reduced as compared to traditional branches.
• Better customer service: Provides 24/7 access to banking services. Reduced burden on bank branches: Reduces pressure on bank branches by handling routine transactions.