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Interbank ATM switch to kick start in May

March 30, 2005

The Monitor:The interbank ATM common switch in Kampala, Uganda, will start functioning in May, according to an announcement made last week by Bankom.

The machine is supposed to let customers of networked banks access cash on any machine, regardless of their banks.

Bankom's managing director Michael Kaggwa explained that one of the three banks that had subscribed to Bankom's switch suddenly decided to change its core banking software application, hampering the progress of Bankom's programming and subsequent launch of the service.

He dismissed a suggestion that the start appeared to be faltering and dim because only three banks - Nile, Orient and DFCU - had signed onto the network.

Stanbic, Uganda's largest commercial bank and holder of the largest ATM network, has not subscribed.

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