May 2008 Financial News

NCB introduces online application system

May 21, 2008

National Commercial Bank (NCB) has developed an online application system for its personal credit card and loan products in an effort, it said, to remain relevant to customers' needs.

"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."

Arguing that the service is fast, easy and convenient, Williams said that successful online applicants will be required to visit the branch of their choice to have their information validated and to sign the relevant 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," she said.

The system, which has already been tested within the bank's network and is now available to the public, was described by Williams as "another first for NCB", as the bank, she boasted, 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," a news release from the bank said.

"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".

According to Williams, there are additional incentives for applying for personal loans or credit cards online. "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," she said. "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."

The bank said that the online application system will be available through its website www.jncb.com, and both existing and prospective customers will be able to access this new service.

The bank also promised that information supplied in the application process will be kept confidential and will be encrypted to ensure its safety.


Source:
The Jamaica Observer
Wednesday, May 21, 2008

http://www.jamaicaobserver.com/magazines/Business/html/20080520T220000-0500_135841_OBS_NCB_INTRODUCES_ONLINE_APPLICATION_SYSTEM.asp