ATM Security Takes Centre Stage At Diebold Conference in Kenya

The rising threat of automated teller machine (ATM) fraud, and the innovative technology solutions that financial institutions could adopt to address security challenges, will dominate discussion at tomorrow’s conference in Nairobi. At the event, Diebold, Incorporated and its Kenya distributor, Tracom Services Ltd., will showcase advanced self-service technology and security solutions that boost branch productivity and improve the consumer experience.

Held at the Norfolk Hotel in Nairobi, the conference will address emerging trends in retail banking and the financial self-service marketplace, covering the important topics of branch transformation, deposit automation and emerging software solutions and services, with a special emphasis on ATM security.

More than 100 delegates from leading financial institutions in the region and senior executives from major information technology (IT) companies in the banking and financial services market are expected to participate in the conference.

“Providing a secure environment for ATM users is essential to maintain consumer confidence in this important channel,” said Xavier Bianne, vice president sales, Diebold Europe, the Middle East and Africa (EMEA). “To address the security requirements of financial institutions, Diebold has taken a leading role in ATM security and the prevention of ATM frauds and attacks. By integrating leading-edge security features directly into the design of our Opteva family of ATMs, we have engineered what just might be the most sophisticated, advanced ATM security solution in the business.”

In April the Central Bank of Kenya (CBK) and the Kenya Bankers Association (KBA) launched a plan to have all banks migrate to more secure magnetic ATM cards and plastic cash by September 30 following increased cases of fraud.

“For emerging markets such as Africa, which has been witnessing a massive rise in ATM fraud over the past few years and where financial self-service activities are set to increase exponentially, ensuring protection against security threats is critical, as the extent of market growth will be closely linked to the level of transaction security offered to customers,” said Paul Njau, general manager, Tracom Services Ltd.

ATMs and plastic cards remain the most convenient way for bank customers to have access to their money with CBK data indicating there were more than 10.7 million ATMs, credit and debit cards in circulation at the end of 2012. The value of ATM transactions alone was Ksh156, 891 million last year, up from Ksh140, 825 million in 2011.

You may also like

Popular News