News

FIs reach out to the unbanked in Bangladesh via Wincor ATMs

May 4, 2012

Wincor Nixdorf is supplying its latest ATM technology to banks in Bangladesh, the company announced. The Wincor systems will support the country's use of ATMs to bring financial services to its adult population, nearly half of which is unbanked.

ATMs are regarded as an efficient lower-cost method to provide multiple financial services and products, especially in rural areas. The number of ATMs per 100,000 Bangladeshi people increased from 0.09 in 2005 to 1.43 in 2010, according to Bangladesh Bank.

Wincor Nixdorf partner ITCL has installed more than 330 ProCash 280 ATMs to date, and expects to deploy 170 more by October, for a total of 500 machines. The units will connect to Q-Cash, the largest shared ATM network in Bangladesh, with more than 26 member banks.

The ProCash 280 systems will be equipped with portrait and cash slot cameras. Should a question arise over a cash-out transaction, the cameras will provide a matching record of the user's features and the transaction, indicating whether money was removed from the machine.

"ITCL has extensive experience of deploying ATMs in suburban and rural areas to ensure greater numbers of unbanked people have access to basic financial services," said Dr. Kazi Saifuddin Munir, the company's managing director and CEO. "We are planning to deploy further ProCash 280 ATMs based on the system's reliability and performance."

"Self-service technology is a critical channel to give consumers access to basic financial transactions across Bangladesh," said Ricardos Khoury, regional VP and head of banking for Wincor Nixdorf, Asia Pacific. "Adopting a multidimensional approach to financial inclusion, such as using ATMs, will make a significant difference in serving the unbanked population."

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