Syariah Mandiri Bank, an Islamic financial institution based in Indonesia, hired Symstream Technology Group Ltd. to install and manage wireless ATMs. The machines will enable the bank to better serve customers in the country's rural areas.
Symstream deployed 50 wireless ATMs in February, expanding the bank's automated branch network. The financial institution operates more than 220 ATMs through 507 branch offices in 33 provinces.
"By deploying Symstream, Syariah Mandiri Bank will now be able to deploy ATMs in the most remote sites in Indonesia; thereby, enabling us to offer services to previously underserved rural communities," said Hanawijaya, the bank's director. "We are excited by the opportunity to provide our customers with a fast, flexible and secure manage-wireless solution."
Mark Gamon, director of Symstream Strategy and International Development, said the ATMs will provide quicker transactions. "Real-time monitoring will give Syariah Mandiri Bank the ability to read operational details of deployed units," said Gamon.
Syariah Mandiri Bank combines the business ideals and the spiritual values as the basis of its operation. Hanawijaya noted that banks based on Islamic law are predicted to enjoy further growth in 2011.
"The country's Muslims, accounting for 80 percent of the estimated 240 million population, are the target market of Syariah banking," he said. "This means that Syariah banks are available to serve about 192 million Muslims."
Syariah banking activity is consistent with the principles of Islamic law and its practical application through the development of Islamic economics.
Symstream Technology is based in Melbourne, Australia.
