Middle East Newsletter

August 2017

Dear ,

New digital initiatives are shaping the banking and payment industry across the Middle East.

In this August edition of the ATMIA Middle East newsletter we take a look at some of the latest developments in the banking and payment industry across the Middle East and explore how growth and innovation in the financial sector is leading to a movement towards digital banking solutions in the UAE.

We are also pleased to welcome Emirates NBD as a new member to ATMIA. If you are interested in joining our growing membership base in the Middle East please contact me for more information about our membership benefits.

As always ATMIA members are encouraged to submit interesting stories or news that we can share with the ATMIA community. ATMIA is also spearheading an industry blueprint for Next Generation ATMs, see below for more information on how to become part of the consortium.

Industry news:

The total number of ATMs in the UAE has risen to 5219, according to recent Central Bank statistics. This is a 2% increase over 2016 and is indicative of an ongoing commitment to increasing automated services, technological innovation, and streamlined business practices in the banking sector.

In the same vein, Abu Dhabi Islamic Bank (ADIB) has released a new version of its mobile banking app which enables customers to make cash withdrawals without the use of a card. The new app uses biometric fingerprint scanning via the Touch ID feature on newer model iPhones. This allows customers to instantly access all banking services using their fingerprints.

These examples also point to a wider trend of digital banking and payments services. Cash is still extremely prevalent in the UAE, with cashless transactions currently accounting for only 10% of all payments in the region.

The shift towards more cashless transactions is being driven by the UAE governments development of smart government services. The UAE Vision 2021's also call for a "Competitive Knowledge Economy" which will also drive innovation in cashless transactions.

The UAE is also paving the way in regulatory developments to enable cashless payments. It is set to launch a fully integrated digital payment platform supported by the entire banking sector, first announced by the UAE Banks Federation in 2014.

Earlier this year, the UAE Central Bank released a new framework governing digital payments in the UAE, taking into account the roles Merchant Account Providers, Third Party Payment Gateways, Integrated Payment Providers and those who trade in cryptocurrency. The framework also defines licensing regimes for payment service providers in retail, micropayments, governments and non-deposit taking firms.

Kind regards,

Andrew

Andrew Dean

Executive Director, Middle East

ATMIA

andrew.dean@atmia.com

C: +27(0)82 577.9921

P: +27(0)21 762.3225

Quick Links

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 that you would like to share to the India region 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.

ATM Industry News and Items of Interest

Oman Arab Bank unveils unified digital banking platform

Oman Arab Bank (OAB) on Tuesday launched a new unified digital banking platform with an all-new simplified interface used across all digital channels, including Internet, ATM, and the new Mobile Banking Application. Read More...

Saudi retail transactions, ATM withdrawals slow in May

Economic data in Saudi Arabia showed a slightly weaker picture in May with retail transactions slowing and ATM withdrawals down by nearly 4 percent year-on-year, according to a new report. Read More...

This major UAE bank is going to stop accepting cash cheques

RAK Bank has said that they will no longer accept cash cheques at all from September 1 onwards. Read More...

UAE banking sector set to improve in second half of 2017

The UAE’s biggest banks saw profits decline in the second quarter of the year – although only by a modest 1 per cent. Read More...

Apple to introduce Apple Pay in UAE this year

Quarterly results from Apple Inc., the US-headquartered technology giant, powered the Dow Jones to new heights on Wednesday, a day after it announced that Apple Pay, its mobile payment software, would expand further internationally before the end of 2017. Read More...

ATMIA's Industry Blueprint for Next Generation ATMs

ATMIA is spearheading an industry blueprint for Next Generation ATMs, developed by comparing a deployer model with a vendor model compiled from feedback during the Industry RFI process. We have asked these deployers who drew up the original RFI, plus the major global ATM vendors and suppliers, to join the consortium we are assembling to look into issues like interoperability and standards for a new ATM operating ecosystem.

If you are an ATM deployer/operator, whether bank or IAD, please let us know at mike@atmia.com if you wish to be part of the consortium for Next Generation ATMs. We look forward to hearing from you.

ATMIA News

ATMIA released a statement clarifying the nature of the association’s conferences for 2017

ATMIA has released a statement clarifying the nature of the association’s industry events, in order to differentiate them from competing commercial conferences.

“It’s vital to realise that ATMIA is a not-for-profit trade association offering the industry the very best speakers and exhibitions for the best value,” said Ron Delnevo, Executive Director of ATMIA Europe. “Our conference revenues are pumped back into our service to the industry, through advocacy, education and networking. No commercial organisation can possibly rival that value proposition. As we move into such a special year for our industry, the ATMIA is stronger than ever, enhancing our ability to support our members in every way.” 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...

Send us your News, Comments, and Feedback

Andrew Dean is Executive Director for ATMIA Middle East. 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 Middle East newsletter can help your company build brand awareness, stay 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.

August Member of the Month for the Middle East and Africa

Newtech Business System Ltd

Newtech Business System Limited (Newtech), headquartered in Lusaka, Zambia, has brought in world class products and services, that simply boost the quality of consumer touch-points and enhance customer delight. It is sourcing the products from some of the world renowned suppliers and providing best in class service to its customers.

They have been a loyal member since 2012.