BCI to install 300 new ATMs this year

Tuesday, March 10, 2009

Chilean bank BCI plans to install around 300 new ATMs this year, innovations manager Pablo Cousiño told BNamericas.

The bank closed 2008 with 998 ATMs and the year before with 800 machines.

BCI has been heavily expanding its ATM network in the last few years because the ATM has become a strategic channel that improves customer service, reduces costs and helps the bank show it is on the forefront in terms of innovation, said Cousiño.

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The last few years have seen BCI seeking to move beyond the ATM's traditional cash-dispensing role to having multi-functional machines that can perform more advanced functions.

Two years ago the bank began introducing its BCI Full concept to increase the degree of self-service at its branches. BCI Full consists of three different ATMs: one cash-dispenser, one machine that accepts envelope-free note deposits in real time and one machine that both cashes checks and accepts envelope-free check deposits in real time.

The cash-checking machine is the first of its kind in the world, according to Cousiño, and it pays clients and non-clients in notes and coins. Next month, the cash-checking machines will begin to operate 24/7, as the bank has now obtained authorization from local banking regulator Sbif to offer this service after normal banking hours.

Today the bank has BCI Full at 48 branches, by the end of this year it plans to expand the concept to 100 branches, and it will then continue expansion nationwide next year. BCI has a total of 250 branches and points of sale.

Cousiño said the BCI Full concept will transform the traditional role of the bank branch, leading to greater automation of routine transactions and allowing the bank's human tellers to focus more on selling products and services.

BCI is Chile's third largest private sector bank in terms of loans and is controlled by the local Yarur family.