Wincor Nixdorf has plans to continue its support for the expansion of retail banking in Nigeria with innovative self-service technology for cash process automation
Together with its partners, it will develop solutions that meet the country’s specific needs. This was announced by company representatives who attended the German/Nigerian Economic Forum in Abuja on July 14 and 15. During the Forum, Computer Warehouse Group, one of Wincor Nixdorf’s partners in Nigeria, ordered 600 ATMs, to be delivered as soon as possible. “We plan to supply Nigerian banks with these systems promptly – without any lengthy delivery and transit times,” commented Austin Okere, CEO of the Computer Warehouse Group.
Nigeria’s President Goodluck Jonathan and German Chancellor Angela Merkel were guests at the Economic Forum along with big names from the world of business in the two countries. “Nigeria is an attractive growth market. We are set to invest more in our partner network here and in optimizing service processes,” reported Isabel Nitz, Director EEMEA Banking Division at Wincor Nixdorf. It is Wincor Nixdorf’s objective to support customers all over the world in business expansion, she added. The company plans to collaborate with local partners to pursue this successful course.
Innovate solutions
One of Wincor Nixdorf’s key strengths is the development of innovative solutions in teamwork with customers all over the globe. This approach has already been successful in such areas as cash recycling, cash and check deposits, and the rollout of multichannel software. Wincor Nixdorf will be making innovative technologies such as these available in the future to the Nigerian banking market. As one concrete example, Wincor Nixdorf is working on test installations with cash recycling systems, which validate deposited Nigerian naira banknotes before making them available again for withdrawal.
Secure automation of cash processes in the cash-heavy Nigerian economy is also one of the goals pursued by the Central Bank of Nigeria. The costs of cash handling continue to rise and will, according to Central Bank estimates, reach NGN 192 billion (Nigerian nairas) in the year 2012. With its new portfolio of Cash Cycle Management solutions, Wincor Nixdorf offers solutions that reduce the cost of cash handling, going far beyond the issue of cash recycling and optimizing processes along the entire cash logistics chain. The advantages this brings include significant cost reductions, far greater security as well as optimal and transparent processes. Wincor Nixdorf is also ready to implement the Central Bank’s goal to roll out more cashless payment processes. “We can also offer extensive know-how coupled with solutions for processing electronic payments,” Isabel Nitz reported.
More ATM's
Wincor Nixdorf considers itself optimally positioned in the Nigerian banking market. 23 of the country's 25 banks have already installed automated teller machines from the German supplier of IT solutions to the retail banking sector. Parallel to consolidation of the banking landscape, the number of installed ATMs has risen sharply; since market entry in 2002, well over 4000 Wincor Nixdorf systems have been installed.
