Co-operative Bank is to double its ATM network to 1,000 terminals under a contract awarded to Diebold Nixdorf, one of the world’s biggest makers of automatic teller machines and financial services software, the company said on January 19.
The contract for systems, software and services would enable CB Bank to expand its ATM network beyond Yangon, said Diebold Nixdorf, which is based at North Canton, Ohio in the United States and Paderborn in Germany.
The company supplied CB Bank’s current network of 500 ATMs, it said in a news release.
Diebold Nixdorf is also helping CB Bank to offer cardless card withdrawals at ATMs by enabling customers to use their mobile devices to create a one-time PIN to withdraw from accounts.
“Diebold Nixdorf was awarded the contract due to its superior product quality, flexible software and ability to offer field service for both hardware and software within the country,” said U Kyaw Lynn, CB Bank’s chief executive and executive vice chairman.
Diebold Nixdorf’s Myanmar partner Kaytumadi iSolutions will localise product features and begin installing the new systems and the rollout is due to be completed by the end of the year, the news release said.
“Together with our local partner, we are enabling CB Bank to extend the reach of its self-service offerings and win a greater share of Myanmar’s growing market for cash services,” said Mr Neil Emerson, Diebold Nixdorf’s senior vice president and managing director, Asia Pacific.
Demand for cash was strong in Myanmar because it was the main mode of payment, the release said. Competition to provide cash services was also strong.
It said CB Bank, which already operated one of the largest ATM networks in Myanmar, had been working with Diebold Nixdorf since 2012.