Diebold Nixdorf to cater to the growing banking needs of Myanmar with opening of new office

YANGON, Myanmar, 2017-Feb-06 — /EPR Retail News/ — Diebold Nixdorf, a leading innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, today announced the opening of an office in Yangon, Myanmar, creating a direct presence in the country for the newly combined company. Previously, Diebold Nixdorf had been operating in Myanmar through third-party business partners, supporting local banks with their self-service technology needs for many years.

Six months into the implementation of the new government’s economic policy, digitization of the banking and financial system in Myanmar is making headways. Success stories of mobile money transfers and airtime top-ups suggest Myanmar banking and retail sectors are ready to migrate to digital channels.  But as Myanmar treads the path between the physical and digital worlds, cash remains king as the main mode of payment, though in improved and more versatile ways.

As of 2015, the total number of automated teller machines (ATMs) in Myanmar is approximately 1,780. The figure of 21% is a CAGR for growth between end-2015 and end-2021, according to strategic research and consulting firm RBR1.

With a population of nearly 54 million people, Myanmar has huge growth potential in the banking sector as it expands its services outside of Yangon to more rural areas where it is estimated that more than 95 percent of the population is unbanked2. Diebold Nixdorf has worked with a number of banks in other countries across the Asia Pacific region to help them reduce the number of unbanked consumers and bring more customers on board. For example, in India the company has helped a number of local banks by providing low-energy ATMs which can work beyond the limited daily power and maintain them through its extensive services and logistics network. Diebold Nixdorf, which has already a team of 30 service staff in Myanmar, can help banks address these needs.

Now, by establishing an in-country presence the company can cater to the growing needs of Myanmar banks as they expand their products and services in and beyond the main cities. In addition, Diebold Nixdorf plans to help established or new retailers who wish to enter the Myanmar market with its automation, omni-channel and lifecycle management solutions.

Neil Emerson, Diebold Nixdorf senior vice president and managing director, Asia Pacific, said, “We’re delighted to be expanding our operations in Myanmar. By establishing a local office in the country it will help us build a closer relationship with our customers and serve them better. We continue to drive innovation in both banking and retail technology and services to meet Myanmar’s unique market requirements.”

Piers Leach, country manager, Myanmar commented, “We have seen a significant growth in the banking industry in Myanmar over the last few years and we have already been a long and established partner for most of the country’s leading commercial banks. We are excited to more effectively grow our partnership with clients with a new, direct presence in the country.”

About Diebold Nixdorf
Diebold Nixdorf is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an ‘always on’ and changing consumer landscape.
Diebold Nixdorf has a presence in more than 130 countries with approximately 25,000 employees worldwide. The organization maintains corporate offices in North Canton, Ohio, USA and Paderborn, Germany. Shares are traded on the New York and Frankfurt Stock Exchanges under the symbol ‘DBD’. Visit www.DieboldNixdorf.com for more information.

Contact: 
Tel: +65 6201 3050

Source: Diebold Nixdorf

CB Bank in Myanmar rolls out cardless cash withdrawal and P2P payment services with advanced technology from Diebold Nixdorf

Leading Myanmar retail bank rolling out cardless cash withdrawal and P2P payment services with advanced technology from Diebold Nixdorf

North Canton, Ohio, USA and Paderborn, Germany, 2017-Jan-19 — /EPR Retail News/ — Co-Operative Bank Limited (CB Bank) in Myanmar has awarded Diebold Nixdorf an extensive contract for systems, software and services to expand its self-service cash offerings beyond the country’s main commercial hub Yangon. The bank will add 500 new ATMs and cash recyclers to its current network of 500 terminals supplied by Diebold Nixdorf.

Recently, Diebold Nixdorf helped CB Bank migrate all its ATMs to more secure EMV chip card technology and obtain EMV certification with both VISA and MasterCard. EMV is a technical standard for smart payment cards introduced by Europay, Mastercard and VISA.

Diebold Nixdorf is also assisting CB Bank with the implementation of cardless cash withdrawals at ATMs. The solution allows bank customers to use their mobile devices to generate a one-time PIN to activate a withdrawal at an ATM either for themselves or for a third party without requiring a bankcard. The technology provides an innovative person-to-person payment service to consumers especially in developing markets, and underscores Diebold Nixdorf’s commitment to drive connected commerce and help bridge the digital and physical worlds.

“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, CEO and Executive Vice Chairman, at CB Bank. “With the help of their advanced technology and services provided, we aim to become one of Myanmar’s top banks offering secure, innovative and convenient cash services across our branch, online and mobile channels.”

Diebold Nixdorf’s Myanmar partner, Kaytumadi iSolutions, will localize product features and begin installing the new systems at the start of next year. The rollout is scheduled for completion by the end of 2017.

Diebold Nixdorf will service the entire 1,000-strong fleet of advanced cash systems in CB Bank’s network of 180 branches.

“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 Neil Emerson, Senior Vice President & Managing Director, Asia Pacific, at Diebold Nixdorf.

Demand for cash is strong in Myanmar. Cash is the main mode of payment in the southeastern Asia country of more than 53 million people. Competition to provide cash services is also fierce. CB Bank already operates one of the largest ATM networks in the country and aims to expand its market position even further by doubling the number of terminals in its self-service network.

CB Bank benefits from its IT partner’s wealth of local experience in Myanmar. Diebold Nixdorf, which has been delivering solutions to CB Bank since 2012, is a major supplier of cash-handling technology and services to all major banks in the country and across the Asia-Pacific region.

About Co-Operative Bank Limited
Established since 1992, CB Bank is one of the earliest and largest private sector banks in Myanmar, employing about 7000 employees. CB Bank has business lines in retail banking, corporate banking and SME banking. CB Bank offers services in consumer financing, cards & merchant services, corporate finance & advisory, international trade, treasury and transaction banking. CB Bank has 180 branches, 350 mobile banking agents and more than 500 ATMs all over the country. CB Bank launched the first ATM in Myanmar on 1 November 2011 and since then has grown it ATM network in excess of 500 ATMs. The bank was the first to launch Self Service Cash Deposit and Cash Recycling Services in the country. CB also holds the top market position in card issuing bank and POS merchant acquisition in Myanmar. The self-service banking services of the bank are branded as EASI Banking.
Visit www.cbbank.com.mm for more information.

About Diebold Nixdorf
Diebold Nixdorf is a world leader in enabling connected commerce for millions of consumers each day across the financial and retail industries. Its software-defined solutions bridge the physical and digital worlds of cash and consumer transactions conveniently, securely and efficiently. As an innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, Diebold Nixdorf delivers unparalleled services and technology that are essential to evolve in an ‘always on’ and changing consumer landscape.

Diebold Nixdorf has a presence in more than 130 countries with approximately 25,000 employees worldwide. The organization maintains corporate offices in North Canton, Ohio, USA and Paderborn, Germany. Shares are traded on the New York and Frankfurt Stock Exchanges under the symbol ‘DBD’. Visit www.DieboldNixdorf.com for more information.

Contact:

Ulrich Nolte
Media Relations – Germany
Email: ulrich.nolte@dieboldnixdorf.com
Phone: +49 5251 693 5211

Steve Virostek
Investor Relations
Email: steve.virostek@dieboldnixdorf.com
Phone: 330-490-6319

Source: Diebold Nixdorf