National Commercial Bank Jamaica Limited (NCBJ) has reported a substantial increase in Automated Banking Machine (ABM) transactions throughout the 2024 Christmas season. From December 17 to December 25, the bank handled nearly 631,000 ABM transactions, totaling an impressive $13.4 billion.
This period marked a 14% rise in transaction numbers and a 22% growth in cash withdrawals compared to the same timeframe in 2023. Remarkably, over a quarter of these transactions were made by customers outside the NCBJ network, leveraging the bank’s expansive reach with nearly 300 ABMs strategically located across Jamaica.
NCBJ maintained exceptional service reliability, achieving a 96% uptime for cash withdrawals during peak hours (6 am to 10 pm), slightly better than the previous year. The bank efficiently managed to replenish approximately $13 billion in cash during the seven days leading up to Christmas, with daily replenishments averaging $4 billion between December 21 and 23.
Bruce Bowen, CEO of NCBJ, highlighted the bank’s dedication to uninterrupted financial services during high-demand periods. “Access to funds is vital, especially during the holidays. Our enhanced ABM performance and superior service levels are the results of our ongoing investments in technology, infrastructure, and operational improvements,” Bowen stated.
Bowen also emphasized the broader economic impact of NCBJ’s services, noting that the bank’s reliable access to funds supports commerce, aids small businesses, and empowers individuals during critical times.
In 2024, NCBJ undertook significant upgrades to its ABM network, replacing over 150 machines with advanced models that offer improved cash handling and dispensing capabilities. Additionally, the bank upgraded its point-of-sale (POS) systems to Verifone Engage models, which provide better connectivity and security for consumers.
While ABM deposit facilities were available 89% of the time during the peak period, NCBJ remains committed to enhancing these services. “Our investment in recycling technology will boost efficiency and minimize service interruptions,” Bowen added. “We are focused on making continuous progress and effectively addressing our customers’ needs.”
Bowen concluded by reaffirming NCBJ’s commitment to high service standards and its ongoing efforts to meet increasing customer demands. These initiatives underscore the bank’s dedication to providing reliable and accessible banking solutions for all Jamaicans.
