Wincor Nixdorf targets Bangladesh market with ITCL partnership

Source: Wincor Nixdorf

Wincor Nixdorf, one of the world's leading providers of IT solutions and services to retailers and retail banking, is supplying its latest ATM technology to banks in Bangladesh to support an increase in the populations access to financial services via the self-service channel.

More than 330 ProCash 280 ATMs have been installed with the support of Wincor Nixdorf's partner ITCL, with a further 170 systems expected to be deployed until October, 2012.

"Self-service technology is a critical channel to give consumers access to basic financial transactions across Bangladesh. Adopting a multidimensional approach to financial inclusion such as using ATMs will make a significant difference in serving the unbanked population," said Ricardos Khoury, Regional Vice President and Head of Banking, Wincor Nixdorf, Asia Pacific.

Approximately half of the adult population in Bangladesh is unbanked (48.5%) in terms of deposit accounts held at banks. The major barrier is geographical or physical access from a household to bank branch or ATM, according to Bangladesh Bank, the country's central bank.
ATMs are regarded as an efficient lower cost method to provide multiple financial services and products. The number of ATMs per 100,000 people increased from 0.09 in 2005 to 1.43 in 2010, according to Bangladesh Bank.

It is expected that more than 500 Wincor Nixdorf ProCash 280 systems will be installed across the Q-Cash network by October, 2012. Q-Cash is the largest shared ATM network in Bangladesh, with more than 26 member banks connected to it.

"ITCL has extensive experience of deploying ATMs in suburban and rural areas to ensure greater numbers of unbanked people have access to basic financial services. We are planning to deploy further ProCash 280 ATMs based on the system's reliability and performance," said Dr. Kazi Saifuddin Munir, Managing Director and CEO, ITCL.

The increase in demand for Wincor Nixdorf's ATM is attributed to the reliable technology used in the systems. Common operational problems are soiled or torn bank notes that increase the possibility of jams and reducing the availability of ATMs to users.

"Wincor Nixdorf's ProCash 280 ATMs are significantly better at overcoming these common problems because of its advanced cash dispensing technology that has enhanced the systems' performance under tough conditions," said Mr Osman Haider, Business Development Director, ITCL.

Meanwhile, The ProCash 280 systems are fitted with embedded portrait and cash slot cameras which provide additional security to both users and banks by recording users' features and whether money was removed from the machine in the event that a cash-out transaction dispute arises. 

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