A few weeks ago, Keystone Bank Limited introduced the mobile cheque deposit feature. This allows a user to deposit the balance of a cheque into their bank account by scanning the cheque with the Keystone Mobile App.
Customers can use this feature without any mobile data on their phones. It has enhanced convenience for customers as they no longer have to go into banks to deposit cheques. This is a positive for Nigerian banks as it’s sure to reduce the usual hectic queues that negatively impact customer experience.
The feature, although a new development in the Nigerian banking industry, has long been implemented by foreign banks in the UK, USA and other countries including; Santander Bank in the UK, Bank of America in USA and Bank of Nova Scotia in Canada, just to name a few.
Keystone Bank has definitely paved the way for Nigerian banks but the question to be asked is; are other banks sure to catch on by implementing the mobile feature in the near future?
The trend in the Nigerian banking industry seems to be that other banks tend to follow suit once a bank comes up with a new innovative feature. An example is the introduction of UBA’s Chat Banker AI system; Leo whose footsteps other banks, including Diamond Bank, Stanbic Bank and Keystone Bank followed in by introducing their own AI Chatbot systems.
In conclusion, the mobile cheque deposit feature is something that’s bound to be adopted by other Nigerian banks in the coming months, especially if they don’t want to be left in the stone ages, so to speak.