Middle East Newsletter

July 2017

Dear ,

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

In this July edition of the ATMIA Middle East newsletter we take a look at some of the latest developments, from cardless cash withdrawals, to digital self-service, and the how to encourage fintech while working within the existing banking regulatory framework.

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: Cardless ATM withdrawals introduced in UAE

RAK bank in the UAE announced recently that it will roll out cardless cash withdrawal facilities at its ATMs, making it the first bank in the Middle East to offer cardless ATM withdrawals.

The initiative is being launched in conjunction with Samsung and will be enabled by Samsung Pay. This means that RAK Bank cardholders, who own a Samsung smartphone, will be able to withdraw cash without the need of a physical debit or credit card.

According to data from RFi Group, ATMs are the most commonly used banking channel in the UAE, with 9% of UAE consumers using an ATM at least once a month and cash remaining the most popular payment method.

The introduction of innovative technology into the banking space is also being embraced elsewhere in the region. The National Bank of Kuwait (NBK) for example, recently announced that it had opened a fully digital customer care centre in Bayan, as part of a strategy to move towards virtual branches and online service delivery.

The Central Bank of Bahrain, meanwhile, is looking to promote fintech in the region, and has created a fintech regulatory sandbox that will allow fintech start-ups to test and experiment banking ideas and solutions.

According to Mr. Khalid Hamad, Executive Director of Banking Supervision, “The regulatory sandbox will enable industry players to apply innovative Fintech products while maintaining the overall safety and soundness of the financial system; We are pleased with the introduction of this regulation, which sets a very forward-looking policy that adapts with the times,”

Offering a virtual space for fintech companies to test their innovative solutions, the framework is open to existing licensees of Bahrain Central Bank and other local and foreign companies, and will be a key driver for expanding fintech in the region.

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

Visa Has Elevated Its own interests above those of Americans In Its Cashless Challenge, Says ATMIA

ATMIA today released a statement questioning Visa Inc’s “Cashless Challenge” campaign in the US. Visa’s July 12 press release outlines its plans to award up to $500,000 to 50 eligible US-based small business food service owners if they go cashless. Read More...

GIB granted retail banking license in Bahrain

Gulf International Bank (GIB) has been granted a retail banking license for its digital venture “Meem” by the Central Bank of Bahrain. Read More...

Bahrain Signs Fintech Partnership with Singapore

The Bahrain Economic Development Board (EDB), Singapore Fintech Consortium (SFC), and the Dubai-asset management firm Trucial Investment Partners have partnered to create a new FinTech environment. Read More...

Smart cash solution for the UAE

A new solution from Transguard and Standard Chartered looks to remove some of the pain corporates have when handling cash in the UAE. Read More...

AFS mobile wallet to enable cashless payments in Bahrain

This mobile wallet will provide benefits to customers such as cash-back on purchases, cross-border remittances, loyalty points and wallet-to-wallet money transfers, in a secure and convenient manner. Read More...

Kuwaiti banks look to customers' digital needs

After launching an innovation and digitisation department to improve online customer service delivery, National Bank of Kuwait (NBK) announced in May that it had opened a fully digital customer care centre in Bayan, as part of a strategy to move towards virtual branches and purely online service delivery. 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.

July Member of the Month for the Middle East and Africa

Standard Bank of South Africa

They have been a loyal member since 2002.