By Emeka Aginam

At the just concluded German/Nigerian Economic Forum held in Abuja last week, Wincor Nixdorf has announced plans to continue its support for the expansion of retail banking in Nigeria with innovative self-service technology for cash process automation with the supply of 600 ATMs to its partners, Computer Warehouse Group.

Together with its partners, it would also develop solutions that meet the country’s specific needs.

At the event that attracted Nigeria’s President Goodluck Jonathan and German Chancellor Angela Merkel and other big names from the world of business in the two countries, Austin Okere, CEO of the Computer Warehouse Group” said that , “We plan to supply Nigerian banks with these systems promptly – without any lengthy delivery and transit times.”

FORUM: From left: Peter Woydich, sales manager Africa operations for Wincor Nixdorf international GMBH, Nitz, Director EEMEA, Wincor Nixdorf international GMBH and Austin Okere, Group CEO Computer Warehouse Group at the signing ceremony at the last Nigerian-German Business Council in Abuja.

For Isabel Nitz, Director EEMEA Banking Division at Wincor Nixdorf., “Nigeria is an attractive growth market. We are set to invest more in our partner network here and in optimizing service processes,”, adding that it is Wincor Nixdorf’s objective to support customers all over the world in business expansion. The company plans to collaborate with local partners to pursue this successful course, she said.

One of Wincor Nixdorf’s key strengths, according to her is the development of innovative solutions in teamwork with customers all over the globe.

“This approach has already been successful in such areas as cash recycling, cash and check deposits, and the rollout of multichannel software. Wincor Nixdorf will be making innovative technologies such as these available in the future to the Nigerian banking market.

As one concrete example, Wincor Nixdorf is working on test installations with cash recycling systems, which validate deposited Nigerian naira banknotes before making them available again for withdrawal” she said.

Secure automation of cash processes in the cash-heavy Nigerian economy is also one of the goals pursued by the Central Bank of Nigeria.

The costs of cash handling continue to rise and will, according to Central Bank estimates, reach NGN 192 billion (Nigerian nairas) in the year 2012.

With its new portfolio of Cash Cycle Management solutions, Wincor Nixdorf offers solutions that reduce the cost of cash handling, going far beyond the issue of cash recycling and optimizing processes along the entire cash logistics chain.

The advantages this brings include significant cost reductions, far greater security as well as optimal and transparent processes.

Wincor Nixdorf is also ready to implement the Central Bank’s goal to roll out more cashless payment processes. “We can also offer extensive know-how coupled with solutions for processing electronic payments,” Isabel Nitz said.

Wincor Nixdorf considers itself optimally positioned in the Nigerian banking market. 23 of the country’s 25 banks have already installed automated teller machines from the German supplier of IT solutions to the retail banking sector.

After consolidation of the banking sector, the number of installed ATMs rose sharply; since market entry in 2002, well over 4,000 Wincor Nixdorf systems have been installed.