Absa will invest R113 million to grow its self-service network, which consists of ATMs, Internet kiosks, self-service kiosks and cash acceptors.
This is part of the bank's plan to spend R345 million from January to December 2007 to increase its branch and self-service footprint across the country.
One of the principal objectives is to implement innovative technological strategies within the Absa group. This is designed to ensure enhanced levels of customer service and access to banking products, says Venete Klein, executive director of the Absa group.
The self-service network, which currently consists of 6 776 ATMs, 96 Internet kiosks and 91 self-service kiosks, will be increased by 375 ATMs, 200 Internet kiosks, 175 self-service kiosks and 30 cash acceptors.
The total planned investment in the branch network is R232 million, and includes the increase of branches from 759 to 810.
Previously-disadvantaged areas
Absa says 60% to 70% of the expansion in the branch and self-service network will be in previously-disadvantaged areas.
The network expansion will follow the requirements of the financial sector charter to provide access to low-income individuals and will also flow from Absa's secular growth across all customer segments, Klein says.
She adds the financial sector charter and related proposals will also affect where and how often Absa places new ATMs.
"Absa also has to take into account channel migration from ATMs to debit card transactions as people are learning to pay by debit card instead of withdrawing cash and paying by cash," she says.
Absa previously said it expects to see R400 million in cellphone transactions during the festive season.
The bank, in partnership with Blue Label Investments, also plans to install 2 300 multifaceted communication and banking containers in previously-disadvantaged communities over the next three years, creating 9 200 jobs.
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