National Commercial Bank Jamaica Limited (NCBJ) says it processed just under 631,000 ABM transactions totalling $13.4 billion during what it said was the peak period of the Christmas season, from December 17 to 25, 2024.

This represents a 14 per cent increase in transaction volume and a 22 per cent rise in cash demand compared to the same period in 2023, the bank said, noting that over 25 per cent of the transactions were for non-NCBJ customers who are also serviced by NCBJ’s fleet of close to 300 ABMs islandwide.

NCBJ also reported that it was able to maintain a 96 per cent uptime for cash withdrawals during peak hours (6 am to 10 pm), a slight improvement over 2023. Additionally, NCBJ replenished approximately $13 billion in cash over the seven days leading up to Christmas, with daily replenishments averaging $4 billion during the December 21-23 peak, the bank stated in a release.

“We know the critical importance of uninterrupted access to funds, especially during the holiday season when demand reaches its peak,” said Bruce Bowen, CEO of NCBJ. “This year’s improved ABM performance and enhanced service levels are a direct result of our strategic investments in technology, infrastructure, and operational efficiencies.”

Bowen further noted that beyond meeting immediate financial needs, NCBJ’s efforts contribute significantly to the national economy by facilitating commerce, supporting small businesses, and empowering individuals with reliable access to their funds when they need it most.

NCBJ says in 2024 it undertook significant upgrades to its network, replacing over 150 ABMs with advanced models featuring enhanced cash acceptance and dispensing capabilities. The bank said it also upgraded its POS fleet to Verifone Engage models, which offer improved connectivity and security for the shopping public.

While it said the availability of ABM deposit facilities was 89 per cent during the peak period, NCBJ said it continues to focus on improving deposit services.

“Our investment in recycling technology will ensure greater efficiency and reduce the likelihood of service interruptions,” added Bowen. “We are committed to making measurable progress and addressing customer needs effectively.”

Bowen further acknowledged the importance of maintaining high service standards and noted that the bank is actively working to address areas for improvement while meeting increased customer demands. These efforts, he says, demonstrate NCBJ’s focus on delivering reliable and accessible banking solutions for all Jamaicans.