By : Colin Gordon
August 17, 2017 12:00 PM
Financial inclusion and access to self-service banking in Pakistan is becoming increasingly important as financial institutions look to grow their ATM install base. The ATM remains one of the most frequently used banking channels in Pakistan. Cash remains a critical component of day-to-day life for people in Pakistan, with the equivalent of over $28 billion USD withdrawn at the ATM per year. (Source: Retail Banking Research Global ATM Market and Forecasts to 2021).
NCR’s SelfServ is the market-leading ATM brand in Pakistan,
In a market such as this, it is important to make clear that ATMs offer much more than just cash dispensing - ATMs can redefine the consumer banking experience through the ability to offer intelligent deposit functionality. Banks deploying intelligent deposit can experience a fantastic range of benefits in terms of transaction migration from branch teller to ATM, with times for routine transactions such as depositing funds or checks being improved. This is particularly important in Pakistan where banks are looking to expand their ATM presence beyond the main cities into more rural areas of the country. The demand for ATMs in Pakistan is gathering pace as a rising share of the population gain access to bank accounts and wider financial services.
Alongside the ATM, the Pakistani government will also look to grow emerging digital banking channels. (Source: Retail Banking Research Global ATM Market and Forecasts to 2021).
Electronic payments, online banking
NCR’s SelfServ range of ATMs
There are so many exciting technical innovations and changes happening in the Pakistani financial services market at the moment, providing consumers with more choice than ever before. The ATM still has a vital role to play, however, as it undergoes some of the most exciting innovations seen in recent years. Some banks in Pakistan might question why they need to continue innovating and investing in their ATM