JAMAICA’S banking sector continues to grapple with maintaining automated banking machine (ABM) uptime, with notable disparities across institutions and regions, according to a Bank of Jamaica (BOJ) report.

The BOJ report, based on unaudited submissions from eight financial institutions, shows that while operational rates remain high, uptime performance — a critical measure showing the time an ABM is operational and available for transactions — has consistently fallen below the BOJ’s 95 per cent benchmark in 2024.

Some banks, such as First Global Bank (FGB) and CIBC Jamaica, consistently exceeded compliance thresholds for ABM performance, while larger operators like National Commercial Bank Jamaica (NCB) and Bank of Nova Scotia Jamaica (BNS) faced challenges due to network size and infrastructure upgrades. Weather disruptions also impacted performance, with recovery times varying significantly among banks.

Nationally, 95 per cent of ABMs were operational in October, exceeding the minimum standard for 90 per cent. Yet, the uptime for ABMs fell to an average of 88.4 per cent, down from earlier highs of 91.8 per cent in March. The minimum standard for uptime is 95 per cent. Compliance with this standard indicates that machines are functional and accessible for the majority of the time.

For specific banks, FGB’s ABMs achieved uptime rates above 98 per cent across the country, with the recovery time for its machines being as little as 24 minutes in the Kingston Metropolitan Area (KMA). Recovery time refers to the average time taken to restore an ABM to full functionality after a fault that inhibits customer use.

CIBC Jamaica also met the regulatory threshold with uptimes of more than 95 per cent across the island. Its machines are restored in working order on average every 1.3-2.3 hours.

In contrast, larger operators like NCB faced longer recovery times and struggled to meet uptime standards, with its machines down more time in KMA than in other urban areas or rural regions. Its machines were up between 91 per cent and 93 per cent of the time islandwide. In March, NCB reported recovery times exceeding eight hours in certain regions, though this improved to 1.5-4.1 hours by October, reflecting efforts to streamline maintenance processes.

Similarly, BNS, which has been replacing older machines across its network, reported recovery times of 3.2-3.8 hours in October, down from highs of over 6 hours earlier in the year. BNS reported operational rates for its machines as low as 84 per cent in September and October, with uptimes of 86.9 per cent in October.

JN Bank Limited recorded the lowest uptime rates among major banks, with figures as low as 82.4 per cent in KMA, 76.7 per cent in other urban areas, and 80.0 per cent in rural regions.

Sagicor Bank Jamaica Limited maintained compliance with uptimes of 93.2-94.9 per cent across all regions, while Victoria Mutual Building Society (VMBS) achieved uptimes of approximately 90-91 per cent across regions, falling short of compliance. JMMB Bank (Jamaica) Limited posted mixed results, with uptimes ranging from 88.8-97.5 per cent depending on the region. JMMB Bank (Jamaica) Limited and Sagicor Bank Jamaica Limited averaged recovery times of around 3.8-6.0 hours, depending on the region.

Data from the BOJ indicates that the national average recovery time for ABMs stood at 2.9 hours in October 2024, improving slightly from 3.2 hours in September and 5.7 hours in March. In urban areas like KMA, the average recovery time was faster at around 3.2 hours in October. Rural areas lagged slightly, with average recovery times of up to 4.2 hours, reflecting logistical challenges and fewer resources allocated to these regions. Banks with smaller networks, such as FGB and CIBC, consistently outperformed their peers in rural areas, achieving recovery times under an hour.

The KMA saw operational rates decline from 97.5 per cent in March to 94.1 per cent in October, with uptimes falling to 88.9 per cent. Rural areas faced similar challenges, with operational rates at 94.4 per cent in October and uptimes averaging 88.5 per cent. Other urban areas maintained higher operational rates but reported uptimes of only 87.9 per cent in October, down from earlier highs of 96.3 per cent.

However, uptime percentages—measuring the duration machines are available for transactions—fell below the 95 per cent industry standard, averaging 88.4 per cent in October, a decline from 91.8 per cent in March.