NBAD in Egypt goes live with BankWorld-enabled FX ATM facility

NBAD Egypt will use CR2's innovative solution to provide a foreign currency exchange facility via its ATM network.

National Bank of Abu Dhabi has deployed a network of BankWorld enabled cash acceptance ATMs to accept cash deposits, credit card payments and exchange foreign currency at ATMs 24/7 in leading hotels, central shopping areas and tourist destinations throughout Egypt.

"Egypt is one of the Middle East's most popular tourist destinations with almost 10 million tourists visiting the country last year," said Amr Madkour, Director Information Technology, NBAD Egypt. "BankWorld's solution enables us to extend our foreign currency facility to walk up customers as well as cardless tourists. With ATM transactions costing less than a quarter of branch transactions, this service will greatly assist NBAD Egypt in providing competitive FX exchange facilities."

Using BankWorld, NBAD Egypt's ATMs automatically counts a client's deposit while they are at the ATM. Once validated the amount is instantly credited to the customer's account or credit card. Likewise when foreign currency is deposited the client can request that it be exchanged immediately for local currency which is then disbursed via the ATM.

"National Bank of Abu Dhabi is one of the leading banks in the Middle East," comments Kieran Kilcullen, Global Director of Sales and Marketing, CR2. "The launch of its foreign currency facility via ATMs at Egypt's prime tourist destinations further strengthens the banks reputation as a regional leader in innovative banking products and services."