Security solutions for ATM is especially relevant in the African region

Published: 9 February 2022 y., Wednesday

According to the European Association for Secure Transactions, in 2021, the total number of physical attacks related to ATMs grew by 2% (from 1829 to 1873 incidents) and the losses from physical attacks were 4.9 million euros.

ATMeye.iQ is a software solution developed by Penki Kontinentai Group’s BS/2 company, which is designed to secure ATMs and help resolve disputes with customers. In 2021, 2656 licenses of the solution were sold. The largest orders were received from banks in the African region.

"Protecting self-service devices and their users is still a current problem in Africa. Vandalism and fraud are not uncommon in this region, such as waiting behind customers' backs and stealing their withdrawn money, as well as extortion. Large. banks working to increase the security of their ATMs and customers have therefore been buying our software solution. Sales of ATMeye.iQ licenses have also increased due to the ATM network development in Africa," says the Project Sales Manager Vilius Gofmanas.

Last year, Zenith Bank of Nigeria, a long-time BS/2 customer, purchased an additional 300 ATMeye.iQ ATM security system licenses.

Last March, with ATMeye.iQ, BS/2 entered a new market - Mali. In this country, in cooperation with local partner Maligab SARL, 80 licenses were sold to Banque de Development du Mali.

In 2021, banks in Mozambique, the Democratic Republic of Congo, Gabon, and Cameroon also purchased the ATMeye.iQ security system.

“Activation of new markets and partners in old markets shows that the issue of security in these countries, as in most African countries, is relevant and banks are solving it by implementing the ATMeye.iQ solution,” says Vilius Gofmanas.

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