Online banking services expansion in Jamaica

[img_assist|nid=7622|title=|desc=|link=none|align=left|width=65|height=100]An online system to apply for credit cards and loan services was designed by the National Commercial Bank (NCB) of Jamaica to stay constantly up to the trends in customers'' behavior. The application is reported to be available on the bank's website and both existing and prospective customers will be able to access this new service.

"Applying for loans or credit cards online is better for the customer in many ways," explained Sharon Williams, NCB's manager, consumer banking and customer relations. "You are able to complete some of the required paperwork on your own time and at your own convenience. You will also be able to get an initial response very quickly as NCB's system will assess the information provided and be able to give a conditional decision within 15 minutes."

Online applicants which successfully passed the registration will be suggested to report to one of the bank branches to validate their information and to sign corresponding documents. "However, the time spent in the branch is significantly reduced for online applicants, as much of the initial application process would have been already completed," says Williams.

In addition to the fact that the bank was the first to offer a local credit card, Keycard, and remains the only Jamaican commercial bank with a proprietary card "NCB was also the first commercial bank to offer Internet banking, standard and mobile point-of-sale machines and drive-through ABMs to its customers," according to a news release from the bank.

"We have seen where our customers are increasingly embracing the use of our banking services outside the branch," added Williams. "Customers can use the ABM, point-of-sale machines, the telephone and the Internet to access information and perform many banking transactions. With this system, another NCB service that was available in a branch is now easily accessible to our customers. Our mission is to remain relevant to the needs of our customers, in this way we bring the banking to you. We encourage you to apply for your personal loans or credit cards online, where it is fast, easy and convenient".

"As a part of a special introductory offer, NCB will be waiving the commitment fee for loans and the annual joining fee for the first year on credit cards," states Williams. "To access these benefits, applicants must apply using the online application system before September 30, 2008. This represents significant savings for online applicants; a loan of $1 million can attract a commitment fee of approximately $20,000."