Alternate delivery Channel

Banks provide alternate services to its customer known as the Alternate Delivery Channel. Banks are deploying alternate delivery channels to provide online services.

In Pakistan, ADC is a key department to support the bank by providing banking services directly to the customers through ATMs, Cash Deposit Machines, IVR, Internet Banking, Mobile Banking, and POS. ADC has changed the banking service.

The traditional bank service included teller service and Cheque/Cash Deposits. The Branch network has changed due to the evolution of ADC. Cheque/Cash deposits and teller service have now shifted to ADC. The most popular channels in ADC are:

ATM

An automated Teller Machine (ATM) is an electronic telecommunication device that provides customers to perform financial transactions, such as cash withdrawals, balance inquiries, fund transfers, mobile popups, mini statements, and bill payments performed 24/7.

The most common places of ATMs are inside banks, shopping centers/malls, airports, railway stations, grocery stores, petrol stations, and restaurants.

Cash Deposit Machine

Cash Deposit Machine (CDM) is a self-service terminal that lets you make deposit cash. All successful transactions are immediately credited and customers will be issued with an advice slip of successful transaction.

IVR

Interactive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice before talking to a human operator.  

IVR system can respond with pre-recorded or dynamically generated audio to further direct users on how to proceed.

Internet Banking

Internet banking is a bank online website that allows customers to perform different kinds of transactions.

The most popular transaction through Internet Banking is balance inquiry, fund transfer, account statement, and bill payment. Customers can access internet banking any time and it is available 24/7.

Mobile Banking

Mobile Banking is relatively but it is the most popular service in ADC. This service is provided by a bank that allows its customers to conduct banking transactions using a mobile device or tablet. Banks provide an app to use this and is available 24 hours.

POS

Point of Sale (POS) is the overall hardware and software system used for billing in a store where the customer pays the payment through a Debit/Credit card and receives a receipt for confirmation of payment.