Diebold Nixdorf establishes direct presence in Myanmar
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Diebold Nixdorf, a leading innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, today announced the opening of an office in Yangon, Myanmar, creating a direct presence in the country for the newly combined company.
As of 2015, the total number of automated teller machines (ATMs) in Myanmar is approximately 1,780. The figure of 21% is a CAGR for growth between end-2015 and end-2021, according to strategic research and consulting firm RBR.
With a population of nearly 54 million people, Myanmar has huge growth potential in the banking sector as it expands its services outside of Yangon to more rural areas where it is estimated that more than 95 percent of the population is unbanked. Diebold Nixdorf has worked with a number of banks in other countries across the Asia Pacific region to help them reduce the number of unbanked consumers and bring more customers on board. For example, in India the company has helped a number of local banks by providing low-energy ATMs which can work beyond the limited daily power and maintain them through its extensive services and logistics network. Diebold Nixdorf, which has already a team of 30 service staff in Myanmar, can help banks address these needs.
“Diebold Nixdorf, which has already a team of 30 service staff in Myanmar, can help banks address these needs.”
Now, by establishing an in-country presence the company can cater to the growing needs of Myanmar banks as they expand their products and services in and beyond the main cities. In addition, Diebold Nixdorf plans to help established or new retailers who wish to enter the Myanmar market with its automation, omni-channel and lifecycle management solutions.
Neil Emerson, Diebold Nixdorf senior vice president and managing director, Asia Pacific, said, “We’re delighted to be expanding our operations in Myanmar. By establishing a local office in the country it will help us build a closer relationship with our customers and serve them better. We continue to drive innovation in both banking and retail technology and services to meet Myanmar’s unique market requirements.”
Piers Leach, country manager, Myanmar commented, “We have seen a significant growth in the banking industry in Myanmar over the last few years and we have already been a long and established partner for most of the country’s leading commercial banks. We are excited to more effectively grow our partnership with clients with a new, direct presence in the country.”
Questions & Answers
Q.How will Diebold Nixdorf's new direct presence in Myanmar change its operations there?
How will Diebold Nixdorf's new direct presence in Myanmar change its operations there?
Previously, Diebold Nixdorf operated through third-party business partners. Establishing an office in Yangon means they now have a direct presence, aiming to build closer customer relationships and better serve local banks and retailers.
Q.What is the current state of ATM penetration in Myanmar?
What is the current state of ATM penetration in Myanmar?
As of 2015, there were approximately 1,780 ATMs in Myanmar. The number is projected to grow significantly, with a 21% compound annual growth rate expected between end-2015 and end-2021.
Q.What challenge do banks face in Myanmar, particularly outside major cities?
What challenge do banks face in Myanmar, particularly outside major cities?
Banks need to expand services to rural areas, where over 95% of the population is unbanked. Diebold Nixdorf aims to help reduce the number of unbanked consumers by supporting banks in these regions.
Q.What specific technological challenge might Diebold Nixdorf help Myanmar banks overcome in rural areas?
What specific technological challenge might Diebold Nixdorf help Myanmar banks overcome in rural areas?
The company can provide low-energy ATMs, similar to those used in India, to address the issue of limited daily power. They also offer extensive services and a logistics network to maintain this technology.
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