Dear ,

Promoting financial inclusion has become a serious topic of discussion across Africa in recent years. In the July ATMIA Africa newsletter we look at some of the latest developments and discussions around financial inclusion in Nigeria and share some of the latest banking and payments news from around the continent. 

We are also excited to announce that Chris Bertish will inspire and motive attendees to Dream it, See it. Believe It. Achieve it. as he presents the opening keynote at our upcoming Africa conference: ATM & Cash Innovation Africa 2017. Which will be held on the 4th and 5th of October. 

You can register now for the conference or visit the ATMIA website for more information.

News from the Region: Financial Inclusion in Nigeria

The central bank of Nigeria recently held an event to promote financial service solutions and intervention programs that that will boost financial inclusion and stimulate the economy. 
With the theme: “Promoting financial stability and economic development,” the bank reiterated its determination to engage and enlighten the public about their rights and privileges with respect to commercial banks.

Speaking at the workshop CBN Team leader Isaac Okorafor, highlighted the fact that almost 40% of Nigerians do not have access to formal banking services. This makes it difficult to maximise credit accumulation and is a hindrance to economic growth. 

As a result of the CBN has formulated policies to support those in need of financial services and educate them on the products and services available to them. 

The problem of financial inclusion in Nigeria, and across Africa, is also becoming a driving force for fintech and digital solutions in financial services. GT Bank for example is using mobile technology to expand their reach to underserved areas. 

“From experience, we know that the major reasons for financial exclusion include the lack of physical access to financial institutions, inadequate understanding of financial institutions and their products, general distrust in the system, and the affordability of products as a result of minimum opening balance requirements.” Says Segun Agbaje, Managing Director and CEO of Guaranty Trust Bank. 

“This is why, at GTBank, we are keen to leverage digital technology to expand the reach of our products and services. Mobile has become very, very big and we have begun to see people doing a lot using their mobile phones.”

According to CBN’s national financial inclusion strategy, it is predicted that by 2020 the number of Nigerians with access to financial services should rise to about 70%. This target is only achievable by embracing and leveraging the power of digital technology and using it to leapfrog existing legacy systems. 

Speaking at the Fintech in Africa conference held in Johannesberg recently, Danai Musandu, an investment associate at Goodwell Investments in South Africa observed, “In Africa, the only way to serve the massive unbanked population is digitally. The question is: Who is going to get there first? Who is going to own this space?” 


Upcoming Event
We are excited to announce our upcoming ATMIA Africa conference

ATM & Cash Innovation Africa 2017: Unlocking the ATM market in Africa – The future of devices, cash, mobile and digital in retail banking 

Date: October 4 - 5, 2017
Location: Maslow Hotel Sandton, Johannesburg 

Some of the main themes that will be covered in the conference include: 
  • Improving customer retention - ATM applications, innovation and lifecycle management
  • Cash management and improving efficiency in the cash cycle
  • The  ATMs influence on the evolution of customer interactions in banking and payment channels
Confirmed speakers include the South African Reserve Bank, Cardtronics, Visa, Central Bank of Nigeria, Paycorp,Travelex, Oberthur Cash Protection, Payment Alliance International, Retail Banking Consulting Group and KAL.
If you are interested in sponsoring or exhibiting at this event please contact andrew.dean@atmia.com
Kind regards,
Andrew

Andrew Dean
Executive Director, Africa 
ATMIA
C: +27(0)82 577.9921
P: +27(0)21 762.3225
Call for Stories, Case Studies and Press Releases from ATMIA Members 

We are calling all ATMIA members to submit interesting stories or news that we can publish to our website and include in our newsletters to help promote your company.

The story can be a general update on your organisation, a new product, a new market entered, or any other relevant industry news. 

2 to 3 will be featured every month in our newsletters, and the rest will be posted on our website or will be featured the following month.

Please send any stories or news articles for the African region that you would like to share to me at andrew.dean@atmia.com or connect us with the appropriate marketing and communications resources in your organisation so that we can also serve as an outlet for your interesting stories and news in the retail banking and ATM industry. 
ATMIA Industry Position Statement Regarding Upcoming Migrations to New Operating Systems

Over a two-year period, ATMIA has diligently worked with members and stakeholders, in the 2020 Committee and the Next Generation ATM Architecture Committee, to address all aspects of a Windows 10 migration roadmap. This included commissioning and sharing various high-level research projects to promote informed decision-making. 

With the largest manufacturer recently announcing W10 readiness, ATMIA believes the time has come for real-time planning for an actual migration. ATM operators should now speak with their suppliers and immediately assess the impact of the upcoming migration on their own estates. Deployers and stakeholders should study all options and scenarios carefully, exploit opportunities for any desired benefits from W10 and ensure portability to future Next-Gen ATM Architecture standards, including, in all probability, for a new industry-wide API ecosystem. 

And with Microsoft announcing the end of Windows CE support, the ATM industry must also address the challenges facing retail ATMs, for example, through a roadmap worked out in the WinCE 2023 Committee.

The upcoming migrations to new operating systems, as a result of end-of-support for existing systems, should be viewed in a broader context of the widespread adoption of dynamic technologies ranging from smartphones to Cloud architectures. ATMIA is currently coordinating an international Industry RFI process for Next Generation ATMs and will work with members and stakeholders to make significant industry recommendations in due course for an innovative future for ATMs.

ATM Industry News and Items of Interest

[Kenya] Kenya's Barclays Bank says to shut down seven branches
Barclays Bank of Kenya said on Monday it plans to close seven of its branches in the East African country in October as part of cost cutting measures. Read More...
[Nigeria] Diamond Bank unveils revamped internet banking
In its quest to enhance the delivery of unraveled financial services to Nigerians, Diamond Bank Plc has launched its revamped Internet Banking platform, offering its customers and potential customers a world-class online banking experience. Read More...
[Sierra Leone] GTBank's Success Driven By The Best Technology, Its S/Leone MD
He is a man of astonishing skills for a professional banker. He applied these skills when he assumed duties as Managing Director of Guaranty Trust Bank in Sierra Leone in 2014. Few weeks to his resumption as MD, the bank was in crisis. Read More...
[South Africa] How Artificial Intelligence Will Revolutionise Banking
Artificial Intelligence gets a bad rap in pop culture. Movies like Terminator (with its rebellious Skynet) and 2001 (with its murderous HAL 9000) portray a future where the robots get smart, and conclude that it is in their interests to try and destroy mankind. Read More...
[South Africa] In South Africa, Cash Is Consumers' Hands-Down Choice
When the money transfer app M-Pesa entered the South African market in 2010, the company behind the app, Vodacom, set a target of reaching 10 million users within three years since its launch. The company was intent on repeating the success it had first achieved in Kenya. Read More...
[Zimbabwe] EcoCash has processed $23 billion in last 5 years
Econet has announced that their mobile payment solution, EcoCash, has processed $23 billion in the last 5 years. EcoCash was launched in 2011, back there was no cash crisis and no banks had integrated with it. So it was just used by very few people to send each other money. Read More...
[Nigeria] Diamond sells Atlas Mara stake to revive Nigerian ambitions
Atlas Mara, which has dropped almost 80% since an initial public offering led by co-founder Bob Diamond, plans to raise more than its market value by selling a 35 % stake to Fairfax Africa Holdings Corp. Read More...

Connections

Member to Member Introductions

Connecting with ATMIA members is easy with our member to member introduction service.

Sign into your account on the ATMIA website home page. Then go to the Member Directory and search for new contacts by keyword, company type, country or region. Full contact and other pertinent information is displayed for each ATMIA member.

Simply click the Request Introduction button to email a personalized message with your contact information. Recipients will know that ATMIA sanctioned your outreach. Try it Now...

Andrew Dean
Send us your News, Comments, and Feedback

Andrew Dean is Executive Director for ATMIA Africa. He's available to help you and your business navigate all things ATM.

Feel free to reach Andrew by email at andrew.dean@atmia.com or telephone +27 (0) 82 577.9921 Mobile or +27 (0) 21 762.3225 Office.

Visibility

Brand Building Opportunity

Sponsoring ATMIA's Africa newsletter can help your company build brand awareness, keep your business top of mind, increase customer loyalty and drive new sales.  
Member Rate = $1000 for 1 Issue, or $1500 for 2 Issues

Sponsorship includes:
  • Logo and website link in newsletter top box, right column
  • 500 word company backgrounder article with two photos placed in media library on ATMIA website for two years with distribution to global and regional members
Email Sharon Lane, global director of finance and member services at sharon.lane@atmia.com for more information.
July Member of the Month for the Middle East and Africa


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