CIBC FirstCaribbean International Bank (Bahamas) has launched the roll-out of its 'smart' automated banking machine (ABM) technology in Grand Bahama.

The BISX-listed lender, in a statement, said its new Pioneer’s Way branch features three modern ABM machines as well as a drive through ABM.

It added that the new ABM technology will provide for faster, more efficient cash and cheque-related transactions, and an improved overall banking experience.

For Bahamian dollar cash-related transactions, CIBC FirstCaribbean said clients will be able to deposit up to 50 bank notes into the machine per go without using an envelope. They will have immediate access to the cash deposited, and receive a detailed printout of the transaction details when it is complete.

For cheque-related transactions, the bank added that clients will be able to deposit up to eight cheques into the machine per transaction without using an envelope. They will see on-screen images of cheques deposited, and receive the same detailed printout.

Gezel Farrington, CIBC FirstCaribbean’s director of retail banking channels, said: “We are so excited to introduce the simplified and modern banking experience that ABM technology, and new teller transaction technology, presents to our clients.

"The Pioneer’s Way branch allows persons to conduct business in a timely and efficient manner, and makes it possible to conveniently do banking without even having to come inside the branch.

“CIBC FirstCaribbean encourages its clients to use its ABM machines, and online and mobile banking channels, where possible. However, the Pioneer’s Way branch also has a digital banking zone with a dedicated digital champion to help clients with all of their online and mobile banking needs.”

With five ABMs in total, CIBC FirstCaribbean said the new Freeport branch features two night deposits, including a drive-through night deposit machine that allows business clients to make their deposits safely without exiting their vehicle.

Sally Laing, CIBC FirstCaribbean’s branch manager at Pioneer's Way, said: “We are so grateful for the clients we have had over the years. From opening accounts and helping with transactions to assisting individuals reach financial milestones, it brings us great joy to now utilise new technology that allows tellers, and our entire team, to provide quicker, more efficient service."

The Freeport branch relocated from its East Mall site to the new Pioneer’s Way location, which is across from the Grand Bahama Port Authority (GBPA) building, on January 12. Its telephone numbers, e-mail addresses and operating hours remain the same.