With largest customer base in Nigeria, after its acquisition of Diamond bank, and over 3,000 automated teller machines (ATM) across the country, Access bank and its over 29million customers will now enjoy new revenue opportunities, greater control and significant cost savings, with the full migration of all its ATMs, to CR2 technology solution which eliminates ATM withdrawal charges.
Global infoswift, partners of CR2, a leading channel banking software company revealed that the CR2 banking software now enables Access Bank on BankWorld ATM and Card Switching solution.
Following the deployment of the BankWorld solution offered by CR2, Access Bank has successfully completed the migration of its over 3,000 ATMs to CR2’s ATM driving and card switching solution.
This key project, which will also include the migration of its card management system, aims at providing new revenue opportunities, greater control and significant cost savings for the bank, as it fully supports all localization required for the Nigerian payment systems and services market. It is also fully certified for Verve Card issuing and acquiring.
Speaking at a press conference in Lagos, Afolabi Oke, managing director, Global Infoswift said;
“Prior to the acquisition, Diamond Bank was also using CR2 solution for all their ATMs. If you recall, Diamond Bank’s card was the only card that you could use on any ATM without being charged the N100 fee which was reduced to N65. This was only possible with the CR2 banking solution for ATMs.”
According to Oke, Access Bank now has the most cost-effective and scalable solution for card switching and ATM driving, as CR2 is one of the only two switch vendors currently running an ATM network for banks in Nigeria.
“For the common man, this is basically about reduced cost which is a positive step that is good for the economy, especially at a time when everyone is trying to cut spending,” Ani Eimiakhena, director, Global Infoswift said.
“When you look at the current expenditure of banks in terms of how much they pay per transaction, but once you are on the CR2 platform , you are no longer paying per transaction and that basically helps their bottom line, so the cost of even managing the ATMs is greatly reduced, so that’s an advantage for banks. For the customer, the business intelligent solution where customers are offered their needs based on their profile, and there are so many other advantages on this solution,” Oke said.
Global infoswift Technologies limited, an indigenous computer consulting outfit has been at the fore-front of driving this multichannel software.
About 100 banks in total, including Stanbic Bank, Standard Chartered, ABSA, Access Bank and other reputable banking institutions across Africa are using CR2 services.
Jumoke Akiyode-Lawanson
