By Dawan Africa - Reporter
Mogadishu(Mogadishu24)-Premier Bank has launched Somalia’s first 24/7 ATM Cash Deposit service, allowing customers to deposit cash into their accounts at any time. This service marks a significant development in the country’s banking sector, which has traditionally operated with limited hours.
Founded in 2013, Premier Bank is a prominent financial institution in Somalia, providing a range of financial products and services to both individuals and businesses. The introduction of the 24/7 ATM Cash Deposit service is intended to offer greater flexibility to customers by allowing them to make deposits outside of regular banking hours, addressing the needs of those who require more adaptable access to their finances.
To ensure secure transactions, Premier Bank has integrated advanced security measures into the new ATM Cash Deposit service. Deposits are processed in real time, with immediate updates to account balances. This feature is designed to provide customers with confidence in the safety and reliability of their transactions, especially in a context where cash handling has posed challenges.
According to Mahad Ahmed Mohamed, the Head of Operations and Acting Chief Executive Officer of Premier Bank, the 24/7 availability of cash deposits is expected to support business operations by providing a secure and reliable banking option. This service aims to contribute to the stability and efficiency of financial activities for businesses that need continuous access to banking services.
Additionally, Premier Bank sees this service as a step toward promoting financial inclusion in Somalia. By offering an accessible way for more people to engage with the formal financial system, the bank aims to reach individuals and businesses that have been underserved by traditional banking methods.
The introduction of this 24/7 ATM Cash Deposit service is part of Premier Bank’s broader strategy to expand its digital and self-service banking offerings. The bank plans to further develop its mobile banking services, digital wallets, and incorporate new technologies like AI and blockchain to enhance the security and efficiency of its operations.
Premier Bank’s launch of Somalia’s first 24/7 ATM Cash Deposit service is intended to provide customers with greater flexibility and security in managing their finances. As Premier Bank continues to innovate and expand its services, it aims to meet the evolving needs of its customers and contribute to the development of Somalia’s financial sector.
