Diamond Trust Bank & paynet enter in ATM deal

May 2004

Diamond Trust Bank Limited has signed a contract that will lead to the outsourcing of their ATM fleet management and switch operation with banking technology services from paynet Kenya.

Over the 1ast three years, paynet has pioneered the concept in Kenya where banks and other financial institutions such as savings and credit co-operative societies can offer their clients electronic based services without having to invest in the infrastructure to provide this.

Speaking during the signing ceremony, paynet Kenya Managing Director, Bernard Matthewman said they were leveraging on the ability to provide economies of scale and critical mass.

He said that this gave them ability to offer these services at a higher quality and at a low cost than a bank that decides to go it alone.

“Our contract with Diamond Trust Bank will see the bank gaining a competitive edge by using highly cost effective and efficient delivery channels allowing them to be aggressive with their product development.

Diamond Trust Bank Managing Director, Nasim Devji, said the bank was on the verge of launching into the market a range of highly innovative and unique retail products, adding that ATMS were a critical part of this new strategy.

“As we launch these retail products into the market, we want to focus on what we do best and that is offering unrivalled banking services and growing our customer base” said Mrs. Devji.

She also noted that paynet’s track record in offering, installing and managing banking technology was impressive and assuring.

She confirmed that the bank had direct experience of this as they had been using paynet’s corporate payments solution.. This in turn had led to .extension of their relationship to include management of their new ATM fleet.

As a commercial bank it is important that we have this confidence that the system is highly secure and run by experts. This is the peace of mind that we transfer to our clients through superior service levels” she added.

paynet has built a world-class service center in Nairobi with a full disaster recovery both on and off site and an operational team with over 45 years ATM management experience.

Mr. Matthewman concluded by saying that there is a growing demand for the provision of this kind of outsourced banking service in Kenya and that they were experiencing keen from a wide range of financial institutions that want to implement and at the lowest possible ongoing cost without sacrificing their service levels.

paynet currently processes more that half a million transactions per month through its financial outsourcing business in Kenya and Zimbabwe giving unquestionable leading status in the region.

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