Business Hilights
Tracking Nigeria's Headline Business News Online

CWG’s ATM-as-a-Service concept gains traction, seals deal with 2 banks

The ruggedness of ATM-as-a-Service (AaaS) concept, a leading financial product of Nigeria’s pioneer System Integration Company; CWG Plc introduced about two years ago, has deepened traction, following the recent sealing of a supply deal with two banks in Nigeria for deployment.
Business Hilights gathered that the deals with the banks (names with held), are a testament to the soundness of the concepts model and how it fits well into the innovativeness required to support banks in boosting the competitiveness for customer satisfaction with banking operations in Nigeria with respect to ATM services.
Adeshile Adekanbi, CWG’s Product Manager, ATM & POS, in his remarks, noted that “The gradual acceptance of the AaaS concept is backed up with signed deals between the company and three financial institutions in Nigeria; one of the tier 1 banks, a commercial banks and microfinance bank in the country”.
He added further that the concept is sure to be adopted by more financial institutions as the platform has embedded more innovations.
With every innovation out of the stables of CWG Plc, AaaS was initiated with the aim of allowing banks focus on their core competencies whilst allowing technology platform providers such as CWG drive their ATM Businesses. Technology Platform provider, CWG, will thus provide a specified set of infrastructures and aligned responsibilities to drive efficiency of operations, whilst the banks responsibilities will also be as aligned with their capabilities and competencies.
The company in recent times has stepped up innovations in growing revenues for clients as it has set a model that will in effect support the apex bank’s strategy of closing the gap on financial inclusion by 2020.
“The value-added services integrated into the AaaS platforms is sure to drive usage and overall satisfaction to all concerned stakeholders” Adeshile revealed.
Responding to queries about the possible deviation of the ATM as a Service initiative from the company’s normal ATM support business, where it presently supports 30 percent of ATM base in Nigeria; Adeshile noted that regular ATM business is a foundation on which the ATM as a Service concept is riding and it does not take away from the other, but gives room for more business opportunities depending on the capacity of its banking clients.
“We have in place separate teams, trained and prepared for these innovative extensions, whilst some of our other skilled and experience staff across varying competencies in the group is constantly available to provide continued support,” he explained.
Industry analysts say AaaS is leading premium product from CWG Plc that is currently redefining technology solutions in Nigerian financial space that is set to drive financial inclusion and growth across the continent as plans to push the product around Africa thickens.