CANTON, Ohio - SBC Bank is the first financial institution in Asia Pacific to certify and implement EMV security standards using Diebold Opteva ATMs, as well as the company's Agilis software.
"EMV chip card technology provides enhanced ATM security to combat fraud at the ATM," said Andy Kun, president and chief executive officer of SBC Bank. "It also provides interoperability between chip cards and networks and adds new services, such as customer loyalty, debit and credit programs."
Based in Phnom Penh, Cambodia, SBC is deploying 17 Opteva terminals at its headquarters, branches and convenience stores for cash withdrawals. The machines will be upgraded in the future to incorporate other features and functionality.
EMV, a joint venture between Europay, MasterCard and Visa, produced specifications to support interoperability between integrated chip cards and various types of payment system terminals.
"EMV compliance doesn't just reduce a bank's financial exposure to card fraud," said James L.M. Chen, Diebold's senior vice president, Asia Pacific and Europe Middle East and Africa divisions. "It also offers a significant competitive advantage that allows retail financial services organizations to focus on, and take advantage of, the spending and payment card habits of their traditional markets."
