Co-Operative Bank Ltd. in Myanmar has tapped Diebold Nixdorf for systems, software and services to expand its self-service cash offerings beyond the country’s main commercial hub in Yangon.
According to a press release, 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 EMV chip card technology and obtain EMV certification with both VISA and MasterCard.
The company is also assisting the FI to implement cardless cash withdrawals at ATMs. The solution allows bank customers to use a mobile device to generate a one-time PIN and activate an ATM withdrawal — either for themselves or for a third party — without requiring a bankcard.
Diebold Nixdorf’s Myanmar partner Kaytumadi iSolutions will localize product features and install the new systems. The rollout is scheduled for completion by the end of the year.
Diebold Nixdorf will service the entire 1,000-strong fleet of advanced cash systems in CB Bank’s network of 180 branches.
Cash is the main mode of payment in Myanmar (previously Burma), a southeastern Asia country of more than 53 million people. CB Bank already operates one of the largest ATM networks in the country.
“With the help of [Diebold Nixdorf’s] 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,” CB Bank CEO and Executive Vice Chairman U. Kyaw Lynn said in the release.