NCR Corporation (NCR) continues to deliver consumer transaction technologies and financial services around the world by installing Somalia's first-ever automated teller machine (ATM) in Mogadishu, the East African country's capital, with Salaam Somali Bank.
“We are excited to bring the first ATM to Mogadishu. The installation serves as a sign of hope for the city as businesses and industry increase their investment in the region,” said Mohamed Ali, Salaam Somali Bank. “NCR technology is well known for its reliability and security, and the company is dedicated to bringing access to financial services through technology around the world, making NCR the perfect choice for our historic initiative.”
Salaam Somali Bank worked with NCR channel partner DIS-PRO on the purchase and installation. According to RBR, only five countries worldwide do not have an ATM.1
NCR has been working with financial institutions around the globe with technology innovations to bring financial services to consumers in a variety of platforms and locations. There are NCR ATMs in some of the most unusual places, including the only two ATMs in the cold of Antarctica, on Greek aircraft carriers sailing the Aegean Sea, 4,700 meters up a mountain in China and even in Buckingham Palace. In North America, consumers and businesses have deposited more than 100 million physical checks using their mobile banking apps thanks to NCR software. Globally, more than 120 financial institutions are delivering teller services through remote video using NCR Interactive Teller.
“As a global leader in financial technology, NCR continues to open new doors for banks to engage their customers and deliver services in meaningful ways across digital and physical interactions,” said Brian Bailey, vice president of Marketing and Strategy, NCR Financial Services. “From ATM technology to mobile banking and advanced payments software, NCR Financial Services delivers the most complete Financial Services technology portfolio in the industry.”
Somalia has an undeveloped banking sector with heavy reliance on remittances from abroad.
The ATM is located at the upscale JazeTM is located at the upscale Jazeera Palace Hotel and allows consumers to withdraw U.S. dollars from their foreign accounts. The U.S. dollar is more popular in Somalia due to the minimal value of the Somali shilling.
Salaam Somali Bank anticipates that it will grow its initial deployment and add more machines in other downtown locations. Options for withdrawing money in other currencies may also be introduced in the near future.