" ITREALMS: Four banks handover 1,116 ATMs to ATM-C

Monday, February 22, 2010

Four banks handover 1,116 ATMs to ATM-C

To seat the deadline given by the Central Bank of Nigeria (CBN), four banks have handed over 1,116 Automated Teller Machines (ATMs) to the Nigeria’s premier Independent ATM Deployer (IAD), ATM Consortium.

Chief Executive Officer, ATM-C, Mr. Olumide Bajomo, said this last weekend, UBA Group, First Bank Plc and Diamond Bank handed over ATMs t sorting at the consortium.

Bajomo said that his firm, ATM Consortium, which also operates the QuickCash ATM commended the bank’s decision to this effect, recalling that CBN’s directives indicated that deployment of off-banking site ATMs requires all banks to either handover their cash machines, deployed outside the bank premises to consortia or relocate them to their premises on or before March 31..

This development, he said, has given a boost to QuickCash network of ATMs with hitherto installed capacity of 350 to 1,466.

He outlined the exercise to include that UBA Group handed over 700 ATMs, First Bank - 410 with the remaining six coming from Diamond Bank. 

“Over the next few weeks, we expect our other shareholder banks namely Zenith Bank, Fidelity Bank, Afribank, Union Bank and Wema Bank to follow suit,” he said, stressing that ATM-C would soon commence the rebranding of these ATMs into QuickCash brand across the entire bank branded cash machines and ATMs that were handed.

Executive Director, Banking Operations and Service, First Bank, Dr. Abddu Abubakar, said the handover of the ATMs to the consortium demonstrate the bank’s support for ATM-C.

“We see this CBN policy as a revalidation of the IAD business model, which we adopted for ATM-C at inception, and therefore stand fully committed to the success of the new policy,” he said.

For the Executive Director, Customer Service & Technology, Diamond Bank, Mr. Oladele Akinyemi, the bank sees the CBN policy as an opportunity to actualize the vision of building the largest ATM network in the region.

Diamond Bank, he said, looks forward to a timely completion of ATM-C’s planning processes and an early re-launch of its QuickCash services for the benefit of “our customers, bank account holders and the Nigerian consumer.”

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