Scotiabank Flagged for Largest Number of Non-functional ABM in January

The Bank of Nova Scotia has been cited as the deposit taking institution with the most automated banking machines, ABM, that were not working during the month of January.

But, Scotia also recorded one of the fastest recovery times to have its ABM fixed and operational.

These findings are contained in the Bank of Jamaica’s, BOJ, Performance of ABM report published on Friday.

Tauna Thomas reports.

The BOJ issued its report categorising the performance of machines in three areas. These were Kingston and St Andrew or KMA, other urban areas and rural areas.

The central bank disclosed that Scotia Bank has 102 ABM in the KMA. Of that number, 84, or nearly 83 per cent were operational for the month of January. This means, 18 of their ABM were out of use for the period.

The BOJ says the uptime for their operational ABM during January was nearly perfect, at 99.4 per cent. And the average recovery time was just over an hour.

The bank with the fastest recovery time was First Global Bank, with a recovery time of 30 minutes. Sagicor had the slowest recovery time at 14 hours.

The National Commercial Bank, NCB, and the JMMB were the two other financial institutions cited for not having the full complement of its ABM infrastructure operational in the KMA. For NCB, of its 106 machines, only one was not operational.

JMMB had a similar case with six out of their seven machines in the KMA operational.

All other banks, to include First Global Bank, First Caribbean International Bank, JN Bank, Sagicor Bank and Victoria Mutual Bank Building Society had the full complement of their machines operational in the KMA.

Similarly, in the other urban areas, to include St. Catherine, St. Ann and St. James, Scotia Bank was cited as the institution with the most machines out of operation.

Of its 108 machines, the report says 92 were operational. NCB followed – of its 108 machines, 106 were operational.

The other banks had their full complement of machines operational during January.

But Sagicor and First Global were cited for having the slowest recovery time. Sagicor’s was over 14 hours and First Global, over 11 hours.

In rural areas, Scotia was also reported as the bank with the most ABM out of operation. Of its 82 machines, 63 were operational.

For NCB, of its 87 ABM in the rural area, 86 were operational. First Global similarly had one machine that was not operational. Of its 12, 11 were operational. For JN Bank, 44 of its 46 ABM were operational.

All other banks had the full complement of their machines operational. However, again, Sagicor was cited as the bank with the slowest up time at 15 hours.

The Friday publication follows the BOJ’s announcement earlier this week of new service standards for ABM at deposit taking institutions.