Middle East Newsletter March 2020
Middle East Newsletter March 2020
Dear Member

Welcome to our 3rd newsletter of the year. Every month seems to go by faster than the previous one!

Last month I announced that I would be presenting at the Digital Banking, ATM and Payments Conference 2020 in Dubai on the topic 'What does the future hold for the ATM?'. Unfortunately, this event, along with most others, has been postponed. I am pleased to say we have a new date in November, and I will make sure to keep you up to date with these changes.

In light of COVID-19, ATMIA has issued two statements which you can find below:
Cash is Strong in a Crisis – the Role of ATMs in the Coronavirus Pandemic

In this challenging time, it’s important for the industry to stand together.
We would also like present the opportunity to our current Associate members to consider upgrading your membership level to either the Board level or to become a Regional Sponsor. There are many great benefits which come with this update. Below are some of the highlight benefits:
  • Global Events Discounts
  • Regional & Board Meeting Seats
  • Company Showroom
  • Publications of Whitepapers and Newsletters on ATMIA Site & Social Media

For more information you can view this document. Please feel free to give myself or Erika an email should you have any further questions on this.
Kind regards,
Andrew Dean
Executive Director, Middle East and Africa
ATMIA
C: +27(0)82 577.9921
P: +27(0)21 712.6604
Join the Future-Proofing of the ATM Industry 
Over 300 companies have joined ATMIA’s Consortium for Next Gen ATMs which is developing a new API App model for future ATMs, including over 75 banks and financial institutions and the top IADs in the world.

It is free to join this global movement – simply email me at mike@atmia.com to become part of this critical exercise to ensure our technologies stay relevant for the next generation.

There is a next gen business case toolkit which identifies 22 cost-saving opportunities through embracing next gen architecture, 14 ways of improving revenue and 8 ways to build brand value. It enables a company to calculate potential Return on Investment depending on which sector of the industry you are in.

Please see the toolkit, a list of participating companies, best practices and so much more at the next gen portal.

Read the Ten Talking Points and join us today!

This project will shape the future in many ways creating a relevant and popular ATM for a new generation of consumers.

News Update: UAE leads the Middle East in financial inclusion, while Morocco lags
New research shows that the United Arab Emirates (UAE) has taken the lead in financial inclusion in the Middle East and North Africa (MENA) region, while Morocco is lagging. The report – from Fintech Consortium, Bahrain Fintech Bay, and Jordan Fintech Bay – shows a financial inclusion rate of 20% for the region with wide variance between the different countries.

The report indicates that 36% of the region’s population has access to financial services, while 24% have access to payments functions. Only 9% have access to credit, and 12% to savings. UAE has the highest financial inclusion rate at 46%, followed by Bahrain at 39% and Saudi Arabia at 31%. Morocco showed the lowest financial inclusion rate at only 9%, followed by Egypt at 11% and Algeria at 13%.

“The UAE’s current status highlights a high rate of financial inclusion both regionally and globally at a rate of 87% of the population above the age of 15 having access to a financial account. Nonetheless, the public-private sector continues to launch initiatives targeting financial inclusion to ensure that the standard is maintained alongside upcoming technological advancements,” says the report.

According to the report, challenges hampering financial inclusion in MENA include the knowledge gap and financial illiteracy on topics such as personal finance management, the lack of understanding of credit facilities, and limited awareness of the availability of financial services and investment opportunities.

Other major challenges include underdeveloped technology infrastructure, a lack of trust in the financial system, and a lack of identification documents for underserved segments, especially refugees and low-income households.

The report recommends governments, regulators, the private sector, academia, and individuals leverage technologies such as digital know-your-customer (e-KYC) to allow individuals to open accounts seamlessly with minimum barriers. Increasing smartphone uptake and internet penetration rates provide plenty of opportunities for banks and financial companies alike to build innovative digital and mobile solutions, adds the report. 

ATM Industry News and Items of Interest

Kuwait central bank ready to provide cash to banks over coronavirus outbreak

Kuwait’s central bank said on Thursday it was ready to support its financial sector over the coronavirus outbreak, including by providing cash to commercial banks.
Mashreq Partners With NIUM To Offer Faster And Instant Remittance Services Globally
Mashreq, one of the leading financial institutions in the UAE, today announced that it has signed an agreement with NIUM, a leading company in cross-border digital payments, to expand the number of corridors for its popular QuickRemit service.
Zenith Bank Drives Convenient Banking and Financial Inclusion with Z-Money

Nigeria’s leading financial institution, Zenith Bank Plc, has introduced Z-Money, which brings banking services closer to its customers and enhance financial inclusion among the under-banked and unbanked populace of the country.


SBV joins forces to launch industry association

The increase in cash-in-transit (CIT) crime in South Africa over the month of February 2020 has received significant public attention.


Standard Bank reports resilient results for the year ended 31 December 2019

Sim Tshabalala, Standard Bank Group CEO says: “Standard Bank Group’s results for the 2019 financial year (FY19) are underpinned by the growth and resilience of its core operations. The constrained macroeconomic environment, particularly in South Africa, and ICBCS losses impacted the group’s results.”

ATMIA’s Facebook Page
Have you checked out ATMIA's Facebook page yet? Here are some of the benefits of joining our community on Facebook:
Keep abreast of ATM industry news and developments on:
  • Latest technology
  • Operational efficiencies
  • Upcoming ATM focused events
  • And more….
On our page, you can find all things ATM's and so much more. "Like" us on Facebook us today!
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) 21 712.6604 Office.
Benefits: 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...
Member of the month:
Axis Communications 

Axis enables a smarter and safer world by creating solutions that provide insights for improving safety & security, enhancing operational efficiency and customer experience. As the industry leader in network video, Axis offers products and services for video surveillance and analytics, access control, and audio systems. Axis has more than 3,000 dedicated employees in over 50 countries and collaborates with partners worldwide to deliver customer solutions. Axis was founded in 1984 and has its headquarters in Lund, Sweden.

For more information about Axis, please visit their website www.axis.com and please visit their ATMIA Showroom
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