WIB opens NAf. 2 million digital self-service branch | THE DAILY HERALD

Governor Eugene Holiday and WIB’s Bush Road Self Service Station Branch Manager cut the ribbon while WIB General Managing Director Derek Downes, MCB President Lionel “Chicu” Capriles and a number of ministers, MPs and other officials look on.  

  ~ Equipped with Wi-Fi, phones allowed for mobile banking ~

PHILIPSBURG–Guests attending the grand opening of the Windward Islands Bank (WIB) self-service branch on Bush Road stood in awe as they were treated to a brief fireworks display at the entrance of the bank to mark the official opening of the almost NAf. 2 million facility on Tuesday evening.

The Bush Road branch will open to the public as of today, Wednesday, and all the bank’s branches will resume their regular opening hours from 8:30am to 3:30pm.

Referred to as “the bank of the future,” the spacious Bush Road branch is almost 5,000 square feet and features some of the latest advances in digital banking, including special kiosks equipped with iPads.

General Managing Director Derek Downes told guests that the new branch is testament to WIB’s commitment to keeping in the forefront of banking by offering products and services that leverage the advances in technology. “This branch will offer some of the latest advances in digital banking and while not all that we will introduce is currently in place, we will give you our assurance that more innovative solutions will be coming in the very near future,” he said.

Downes told the media after the official opening that the focus of the new branch is on electronic banking and moving persons away from having to stand in long lines to wait on a teller.

“We do have tellers, but the intention is for people to use the technology more,” he said, adding that there will be digital branch ambassadors in the bank whose role is to encourage clients to sign up for online banking and for automatic teller machine (ATM) cards, etc. The bank is equipped with one ATM indoors and one on the exterior of the building. The bank also has tellers.

The new branch is also equipped with Wi-Fi and clients will be able to use their mobile phones to access online banking only. Downes made clear that making phone calls and sending messages on social media will be strictly not allowed, as the clients’ safety is pivotal.

Several new technologies will be introduced in the future, including a machine that is able to read US dollar and Netherlands Antilles guilder bills and coins that can be used to make commercial deposits. The machine is expected to be available at the branch in about two to three months, Downes said. This means that clients will no longer have to stand in line to make deposits, as they will be able to do so via the machine.

In the future, WIB will also introduce smart ATMs that will be able to read bills and credit clients’ accounts immediately. The smart ATMs will start at the Bush Road branch, but the intention is for the concept to eventually be available at all branches.

Plans are also in the pipeline to renovate other WIB branches. The next one in line to be renovated is the Simpson Bay branch. Downes said WIB owns the property where utilities company GEBE has its branch office in Simpson Bay and once GEBE vacates that location WIB will use the space to offer self-service features.

He told guests during his speech that WIB understands and appreciates the importance of a vibrant financial sector to fostering economic growth and development of St. Maarten. “Therefore, I assure you we will continue to be a valued partner in this effort by offering our support to business, government and the wider community to completely restore robust economic prosperity to our island.”

Downes said he is especially proud of the new branch because it represents a symbol of the resilience and faith of the St. Maarten people to overcome severe challenges as the community continues to rebuild in the wake of the devastation caused by Hurricane Irma, just over 16 months ago. “From its humble beginnings, WIB’s goal has always been to serve the people of St. Maarten by providing reliable, cutting-edge and widely-accessible banking products and services in a comfortable and safe environment,” he said.

Governor Eugene Holiday said the impact of Hurricane Irma on the country has resulted in an urgent need to invest in the rebuilding of the national infrastructure and economy. “The significance of this event is therefore more than the official opening of a new bank branch in the Bush Road district. It clearly demonstrates Windward Islands Bank’s continuing confidence in our economy as well as its vital role in advancing Sint Maarten’s digital infrastructure for socio economic growth,” he said.

Speaking about the development of Bush Road, where he grew up as a child, Holiday said these developments “teach us that our economy has evolved. They teach us that we face new realities, the realities of the digital age where technology play a central role in our daily lives.

“Our 21st-century digital reality has changed the way we interact and behave and, with that, our expectations. It is a reality where everyone and everything is connected online, a reality where people prefer to do everything online, everything from online shopping to online dating.

“To leverage the vast economic opportunities of the online digital world it is imperative for us as a country to invest in the upgrading and expansion of our national digital infrastructure. This is particularly important for our tourism-based economy, where we must meet travellers’ expectations anytime, anywhere, and in real time, to remain competitive.

“But it is equally critical to the functioning of other areas in our society, areas such as healthcare, education, and government services where the impact of digitalisation is increasing rapidly. Safe and reliable access to digital services and the speed of transmission of data and information over the Internet are key to our highly interconnected world. The sustainable recovery and growth of our tourism economy and thus our livelihood depends on it.”

Holiday said that to achieve this, concerted public-private partnerships are needed to organise and fund the required investments in fibre optic-based networks and related enabling infrastructure to boost connectivity across the island and with the rest of the world.

“Established in 1960 as the first commercial bank in St. Maarten to meet the banking needs of our community, Windward Island Bank has a long history and partnership with the people, the businesses and government of St. Maarten, and today’s launching of this digital self-service bank branch is a significant and welcome step in that partnership – significant because it furthers the advancement of St. Maarten’s national digital infrastructure, an advancement that has the potential to help unlock the educational, health care and socio-economic growth opportunities of the digital era, growth opportunities which I am sure that the past residents of Bush Road would have embraced,” he said.

Maduro and Curiel’s Bank (MCB) President Lionel “Chicu” Capriles referred to the new facility as “the bank of the future” and urged everyone to make the bank their financial house.

Source: The Daily Herald https://www.thedailyherald.sx/islands/85172-wib-opens-naf-2-million-digital-self-service-branch

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