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ATM Industry News

ABN AMRO: Combine an overweight in stocks with a cash buffer in 2018


Better-than-expected economic growth, prolonged low inflation and stable financial conditions are a strong foundation for markets in 2018. But high growth also implies economic fluctuations. ABN AMRO advises its clients to start 2018 by being modestly overweight in stocks, to be alert to opportunities and to use cash as a buffer against risks. This can be read in the bank’s 2018 Investment Outlook which has been published today.

Didier Duret, Chief Investment Officer, ABN AMRO Private Banking, said: ‘In 2018, we face a restored business cycle, which means a more dynamic environment with ups and downs. The ultimate goal for our clients in 2018 should be to build a resilient international portfolio and to be aware, as the economic recovery matures, that there is the possibility of market valuations becoming excessive’.

ABN AMRO favours the industrials and consumer discretionary sectors that can benefit from the solid growth momentum underway. Thematic investing requires finding a balance among stocks exposed to renewable energies, emerging consumers and innovative companies active in modernizing manufacturing. Firms related to the Interconnected Factory thematic, based on the internet of things, will likely gain relevance in 2018.

Asian emerging-markets equites are preferred for valuation and earnings prospects. In addition, ABN AMRO expects green bonds, bonds funding climate solutions, to comprise an increasing proportion of investor portfolios in 2018. ABN AMRO expects sustainable investing to move from being a niche to the norm over the next few years.

Commodity markets can be used for portfolio diversification against geopolitical risk. For oil, ABN AMRO expects global demand growth to remain solid and for oil prices to rise. The forecast for the average oil price is USD 70 per barrel (Brent) in 2018.

In currencies, ABN AMRO has shifted the expectation of a stronger EUR/USD into 2019. ABN AMRO expects the US Federal Reserve to hike interest rates more aggressively than what is now expected by the market. Two 25-basis point Fed Funds rate hikes are forecast in 2018.



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FNB PE Keeps The Focus On Connections


When you think ‘Eastern Cape economy’, cars and Coega might spring to mind, but you may not automatically consider the hundreds of entrepreneurs who keep cities like Port Elizabeth, George and Knysna ticking. Nevertheless, these business owners play a vital role in boosting the local economy, keeping communities strong and flourishing, and creating jobs.

At FNB, a bank built on the back of entrepreneurship, we know that business owners – both large and small – are the economic lifeblood of our nation; which is why we support opportunities to engage with this dynamic group, to learn their stories and, hopefully, support their dreams. And there is no better occasion to connect than at the FNB Eastern Cape Wine Show, taking place at the Boardwalk Convention Centre in Port Elizabeth from 23 to 24 November 2017.

Part of FNB’s Capital Route wine showcase, which includes events in the Free State and Mpumalanga, the Port Elizabeth event is jointly sponsored by FNB Private Wealth and FNB Private Clients. This joint sponsorship reveals the network that exists inside of the FNB Ecosystem- two businesses working together to support up and coming, as well as already established entrepreneurs who are building and preserving their wealth.

“The FNB Wine Show is about engaging with our clients, it’s about touching base,” says Frere Koller, Divisional Manager of the Western and Eastern Cape at FNB Private Clients. “For regions like the Eastern Cape it’s wonderful to get these events coming to town. So many events happen in Cape Town and Joburg, so it’s imperative that we show our Eastern Cape clients how important and valuable they are to us by creating some excitement and an opportunity to engage outside of formal business hours.”

Koller, who originally hails from the Eastern Cape, notes that there is a groundswell of entrepreneurship in the region, which is being driven not only by an influx of experienced business executives to coastal towns, but also by those born and bred in this part of the country who have achieved self-made success.

This melting pot of business acumen and entrepreneurial drive is creating a dynamic environment, agrees Quentin Maritz, Divisional Manager for FNB Private Wealth Southern and Eastern Cape. “We’ve seen a number of people relocating and retiring to the George, Knysna, Plett and Mossel Bay area, and a number of top executives from Johannesburg moving to the Port Elizabeth and St Francis area. That’s very good for the local economy,” he says.

FNB Private Wealth, which caters to ultra- and high-net-worth clients, is heavily aligned to helping top-end entrepreneurs flourish and “it’s a growing area of focus”, says Maritz. “Our involvement and collaboration with FNB Business also helps us to gain traction in this market.”

Key to developing these relationships is building solutions around the client, explains Maritz. “It is very important for us to have trusted relationships with our clients, so we spend a lot of time becoming almost biographers of our clients’ lives, understanding their needs, what they’ve had to sacrifice to achieve the success they have, while also helping them plan for future goals.” He adds: “We are a family focussed business and The FNB Wine Show creates a comfortable and informal event to enjoy together.”

Relationship building is also a growing focus for FNB Private Clients, which caters to a more aspirant bracket. The number of bankers servicing these clients is on the rise in the Eastern Cape, says Koller. “Interacting with a client face to face, either at their office or ours, allows us to bring more value and insight, and ensures that we put them in front of the right specialists, be it transactional banking, financial planning, fiduciary, investment or lending advice,” he says. This specialist banking approach requires being on the ground, understanding the specific needs of clients and ensuring that solutions are tailored for them.

Events like the FNB Wine Show have been extremely successful in bringing the FNB entrepreneurial eco-system together in the past and has grown from strength to strength over the years, says Maritz. Supporting ventures which fly the flag for local industries ultimately equates to also supporting local communities. And it all starts with getting to know the entrepreneur and helping them to succeed. “So many institutions focus on the quantitative, but there is a much more important side to our clients. We like to bring the qualitative side to the business,” says Maritz. And what better way to achieve that than by celebrating South Africa’s dynamic and successful wine-making sector.



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EMV Troubleshooting Guide for ATM Owners and Operators


Publication Date: November 2017

The implementation of EMV at U.S. ATMs continues at a steady pace. Many ATM owners and operators are now beginning to feel the impact of the U.S. ATM liability shifts. ATM owners and operators are seeing new transaction scenarios and are at risk of incurring chargeback and fallback penalties.

This document was developed by the U.S. Payments Forum ATM Working Committee to provide recommendations to help ATM owners/operators prevent some common transaction problems, and offer suggestions for troubleshooting problems when they do occur. Topics covered include:

  • Preventing common transaction problems by ensuring data integrity and monitoring transaction activity
  • Troubleshooting tips to determine the scope of the problem and to watch for possible problem scenarios

This document does not cover the dispute process (e.g., chargebacks, re-presentments), since the requirements and policies of industry stakeholders may vary. Consult with the acquirer processor or payment network for specific information about rights and obligations surrounding the dispute process.

The hardware required to support EMV varies based on the ATM manufacturer and model; however, the ATM provider has the responsibility to ensure that all hardware is EMV capable prior to starting EMV implementation.

A recommended best practice is to test the EMV implementation prior to production implementation. This may require test cards with each Application Identifier (AID) supported by the ATM processor. The ATM provider should coordinate testing of EMV functionality at their terminals with their ATM independent sales organization (ISO) or processor, and should explore acquisition of any available test cards with their ATM ISOs or processors, and/or directly with the payment networks.

Download the white paper



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GCB Customer Service To Improve Tremendously Next Year- MD


TAKEOVER PRESS CONFERENCE 1

The Managing Director of GCB Bank, Mr. Anselm Ray Sowah, said that the quality of Customer Service in the Bank will see a major turnaround by the middle of next year.

“I want to see a new GCB delivering a totally different quality of service, a very efficient and exciting one right from when the customer enters GCB and staff will be provided with the necessary tools to deliver,” he assured.

 

Mr. Sowah was commenting on three awards recently won by the Bank for service quality. He commended staff for their contribution that has culminated into these awards and for making stakeholders proud.

GCB within the past two months has been adjudged the Most Compliant Bank in Africa as well as the Safest Bank in Ghana for Investment by international agencies and, Best Money Transfer Bank in Ghana by RIA International Money Transfer. GCB is known for its high standards with rules and regulations that govern banking in this country.

Mr. Sowah, who is passionate about service quality and customer experience said, he would want to see a GCB that has been transformed into a brand synonymous with excellent customer service.

 

He further lauded the introduction of the “Meeter-Greeter” at various branches of the Bank. The concept is all to do with a dedicated staff of the branch called the “Meeter-Greeter” who receives customers at the point of entry and ensures that they are directed to the right service point for attention.

GCB has a positioning statement of being the most welcoming bank and has started putting in place the structures and procedures which give true meaning to this statement for which the Meeter-Greeter initiative is one.

He commended the first group of Meeter-Greeters for their impressive input which is already yielding results in terms of feedback that has reached the Management of the Bank.



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Emirates NBD launches new digital branch


Dubai, 15 November 2017: Emirates NBD, a leading banking group in the region, today opened its first paperless digital branch at Dubai World TradeCentre (DWTC)Inaugurated by H.E Hesham Abdulla Qassim, Vice Chairman of Emirates NBD Group and H.E Helal Saeed Almarri, Director General, Dubai World Trade Centre Authority (DWTCA) and Dubai Department of Tourism and Commerce Marketing (DTCM) and CEO of DWTC, the new branch embodies the bank’s tech-plus-touch ethos by offering both self-service and assisted banking solutions, powered by digital technology.

The branch would feature convenient banking and payment solutions that will allow customers to carry out on their own a variety of transactions as well as apply for new products, and will be open 24 x 7.

“With a clear focus on being the digital banking leader in the UAE and wider region, Emirates NBD is making strategic investments in technologies that modernise both our front-end and back-end operations and transform us into a smart, connected bank within a smart economy. Our new paperless branch embodies a philosophy of offering customers a modern banking experience complemented by a strong human element,” said H.E Hesham Abdulla Qassim, Vice Chairman of Emirates NBD Group.

The branch has a modern look and feel with vibrant LED walls showcasing self-service and assisted service solutions, in addition to touchscreens and tablets offering useful information and product guidance to customers.  Trained branch ambassadors are present to guide customers and to offer personalised assistance with accessing the right digital solutions for their transactions. Pepper, the bank’s artificial intelligence powered humanoid robot is also present to provide customers with information about products and services as well as information on the bank’s various innovative solutions through a natural language conversation.

“Dubai World Trade Centre’s priorities are strategically aligned with the smart city and innovation agenda of Dubai and the UAE. Creating an enabling future-forward ecosystem within our venue – both from an infrastructure and  services perspective – means that we strive to ensure the provision of the most digitally advanced, smart technologies and platforms that cater to the needs of our business visitors from around the world. Emirates NBD’s first paperless branch at Dubai World Trade Centre offering seamless and uninterrupted banking services and transactions to global visitors ultimately enhances our ability to continue to attract new and repeat international business travelers to Dubai,” said H.E Helal Saeed Almarri, Director General, Dubai World Trade Centre Authority (DWTCA) and Dubai Department of Tourism and Commerce Marketing (DTCM) and CEO of DWTC.

“We are evolving our branch network in tune with the changing needs of customers as they look to increasingly rely on self-service. We have fully digitalised several transactions including Personal Loan applications, Credit Card applications and soon Account Opening, allowing our staff to focus on offering customers personalised advice and assistance,” added Suvo Sarkar, Senior Executive Vice President – Head of Retail Banking & Wealth Management, Emirates NBD.

The new branch, fostered by the bank’s Future LabTM, is part of Emirates NBD’s AED 1 billion investment over the next three years towards its digital transformation programme, to further innovation and multichannel transformation of its processes, products and services.   



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Upcoming Webinar: 3 Ways to Improve Early Warning Fraud Detection at the ATM


Join Stanchion & INETCO on November 28th at 4pm SAST/ 9am EST

Are you ready to combat the next generation of advanced persistent threats?

Following a major data security breach, one of the largest financial services groups in Africa asked for help in architecting and implementing a stronger first line of defense against fraud at ATMs.

They required a reliable early warning system that could act as a safety net, providing immediate alerts of irregular transactions that were bypassing the usual authentication and fraud detection methods in payments systems.

Learn how an early warning fraud solution can help.

Join Stanchion and INETCO as they share how the implementation of real-time transaction monitoring and data streaming has helped the Bank combat new advanced persistent threats and increasingly sophisticated coordinated attacks.



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In The Digital World, DevOps Is The Key To Survival – Part Two


This two-part blog provides an assessment of how the continual development, innovation, and testing at the core of the DevOps is something to be considered by any company trying to weather the digital storm.  Daniel Carnes is our guest blogger for this series.  Dan has more than 20 years of experience, including 15 years with First Data, leading teams of developers, engineers, and testers overseeing mobile and internet payment solutions, VAS Exchange, mobile security initiatives, identity management and card vaulting.

This final installment will speak to how DevOps is making it possible for organizations to be more responsive to the needs and wants of customers while running their businesses effectively and efficiently,  pleasing customers and stakeholders as they go.  It may be no surprise to learn that these impacts are being demonstrated and realized in multiple places throughout the companies choosing to use this approach. 

4. Agility

DevOps complements lean business models and agile development methodologies to achieve Digital Transformation possible.  A key contributor to the effectiveness and efficiency is dividing work into manageable projects.  By breaking up the work, teams can achieve results faster.  Putting results into clients’ hands expedites the feedback loop and allows the teams to adapt to client needs faster and with less disruption.

5. Risk Management

Digital Transformation, like all change, involves an element potential risk.  The risks can range from security vulnerabilities and process issues to software flaws or rebranding complications that were created or exacerbated by the change.

DevOps minimizes risk by incorporating security best practices into each phase of the solution lifecycle.  It also minimizes risk by simplifying processes, so there are fewer chances for issues to arise.  Reliance on agile development methodologies is critical to the successful reduction of software and delivery based risks.

6. Scalability

DevOps scales to meet the challenges of organizations of all size. It can be used to implement projects ranging from greenfield  applications to overhauls of legacy systems.  DevOps is agnostic to the technology base impacted by the change, which makes it a powerful tool for Digital Transformation

7. People Friendly

People are the most important asset any organization has when implementing Digital Transformation. Employees are the foundation of the Triple Bottom Line (Employees, Clients, Profit).  Happy employees make for happy clients.  Happy clients lead to profit!

To keep employees happy, organizations must engage and empower them.  DevOps promotes employee satisfaction because it focuses on innovation, collaboration and leads to greater success.  The sense of satisfaction employees achieve through DevOps is a force multiplier which leads to greater retention and recruitment.

Practical DevOps

In large companies, innovation and Digital Transformation can be challenging.  Like an aircraft carrier, large companies do not react quickly to change.  Traditionally, their size was a benefit, but in modern times it has proven a detriment, as smaller, more agile competitors erode their leads.  DevOps allows organizations of all sizes and complexities to accelerate the progress of Digital Transformation and innovation.

Editor’s Note:  In a short time the world of software development has been struggling to evolve with the demands of the market to be more responsive to the needs of consumers and businesses around the world.  The speed at which things have moved is remarkable but for software development to match speed with consumer demand it alone is not enough.  In addition, the various players in the value chain must deliver relevant innovations the improve convenience, efficiency and effectiveness.  This ups the ante considerably.  As a company focused on advanced, modern testing methodologies and tools for a financial services company, we are committed to helping our customers optimize their Dev/Ops model with continuous testing.  Continuous testing in a Dev/Ops environment is a critical step for ensuring the innovations they deliver are not only relevant to the needs of the market but are built to work without fail in the increasingly complex IT environments that are emerging in the ongoing digital revolution.



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Nordea joins trade finance blockchain consortium we.trade


Nordea has become the ninth banking member of the we.trade consortium, which is building a shared platform that aims at making domestic and cross-border commerce easier for European companies by harnessing the power of distributed ledger technology.

The joint venture, which consists of Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and Unicredit, was formed earlier this year to meet the financing gaps hampering domestic and cross-border trade for small and medium enterprises in Europe, while helping to increase overall trade transaction transparency.

IBM won the contract to provide the cloud-based system in a competitive bidding process in June. It will address the challenge of managing, tracking and securing domestic and international trade transactions by connecting all parties both online and via mobile devices.

Ville Sointu, head of DLT & blockchain at Nordea, comments: “In the current broad landscape of blockchain technology based initiatives in trade finance we see we.trade as a standout in its focus and realistic execution strategy. We’re looking forward to providing a Nordic perspective to the future of trade finance.”

Incorporated in Ireland, the joint venture also welcomed Banco Santander to its roster last month and is gearing up for a commercial roll-out in Q2 2018 ahead of a test run in February with bank clients.

Over time, the consortium is expected to grow to include additional banks from other countries and as well as trading partners such as shippers, freight forwarders and credit agencies. To this end, a three-person onboarding team has been formed to welcome new banks to the platform.



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ABN Amro’s Moneyou connects with solarisBank for instant digital loans


Banking-as-a-service platform solarisBank has signed its first integration deal with a Tier 1 bank, providing instant digital loans to Moneyou, the online brand of ABN Amro.

Until now, Berlin-based solarisBank has been connecting mainly fintech startups and digital companies to its banking platform. 

Under the agreement with ABN Amro, Moneyou customers in Germany can now apply for solarisBank loans of between Eur1000 and EUR35,000. Video identification and digital-based processes eliminate paper-based form-filling and customers are promised a decision and fulfillment within seven minutes of completing the application.

Liesbeth Rigter, CEO of Moneyou positions the instant digital loan is a new building block for a smart banking concept “which is oriented towards the reality of our customers’ lives: making self-determined decisions and using fast processes with easy-to-understand digital products”. 

For Marko Wenthin, CCO & co-founder solarisBank, the deal provides a ringing endorsement of the company’s banking-as-a-service strategy. 

“We see our first partnership with another bank as confirmation of our platform approach, which can bring digital companies, start-ups, banks and corporates all together to form one financial ecosystem,” he says.



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ATM World Crop. Joins Withdraw Cash Wednesday as Platinum Sponsor


SIOUX FALLS, SD & LONDON, UNITED KINGDOM –  The ATM Industry Association (ATMIA) is pleased towelcome ATM World Corp. as a Platinum Sponsor of the Withdraw Cash Wednesday campaign.

 “ATM World is proud to support Withdraw Cash Wednesday,” said ATM World Corp CEO Abe Ayesh. “Cash gives consumers options and options bring comfort.”

Currently underway for the U.S. Christmas holiday shopping season, the Withdraw Cash Wednesday campaign is designed to promote consumer cash usage and boost ATM cash withdrawals nationwide. Backed by ATMIA, the secondary goal of campaign is to educate consumers about the benefits of cash such as using it as a budgeting tool, reducing debt and saving money by not having to pay credit card interest fees and saving time at the checkout.

“We appreciate the support of Abe and his team,” says Mike Lee, ATMIA CEO. “With prominent card brands escalating their war on cash, it’s more important than ever for the ATM industry to take the lead in promoting the positive role cash plays for consumers, businesses and the economy.”

“We are pleased to see ATMIA promoting this initiative, and will stand by and lend our support to keep cash on top for years to come,” Ayesh says.

As a Platinum Sponsor, ATM World Corp will receive extensive exposure including having their logo on the website, in all email blasts, social media, newsletters and all printed materials for the ATMIA U.S. Conference. In addition, the logo will appear on the ATM locator section of the site with links back to their ATM locations and they will be able to submit an article for the ATMIA newsletter. Visit www.withdrawcashwednesday.com to learn how you can become a part of the movement!


About ATMIA www.atmia.com

ATMIA is the leading non-profit trade association representing the entire global ATM industry. ATMIA serves more than 10,500 members from over 650 participating companies in 67 countries spanning the whole ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors and a plethora of ATM service and value-added solution providers. ATMIA provides education, advocacy and connections to help its members keep abreast of industry news and developments; increase knowledge and professionalism; improve operational efficiencies; understand and influence regulatory processes; participate in the local, regional and global ATM community; and forge new relationships to advance their businesses. Founded in 1997, ATMIA has active chapters in the United States, Canada, Europe, Latin America, Asia-Pacific, Asia, Africa, India and the Middle East focusing on the unique needs and issues of each region. For more information, please visit atmia.com. Follow us on LinkedIn, Twitter or YouTube.



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