Feasibility Study on ATM/ITM Demand for Production with KPI Metrics in Ethiopia

Abstract

Automatic Teller Machines (ATM) is an innovative service delivery mode that offers diversified financial services. These are operated by the information and communication applications as a result in today’s business environment internet has major influences for all financial, banking and commercial transactions. ATMs allow bank customers to withdraw cash properly anytime, anywhere and at all hours without going to actual bank by online automation of banking transaction services. The customers also acquire different real-time service. As a result the cashless payment system adoption and innovation greatly helped the market growth forecasts of Automatic Teller Machine (ATM). This new technology is testing and demanding different finance institutions to be highly competitive in every aspect of economy. There are different types, designs and configuration of ATM/ITM machines. Their software and hardware must be confidential to support the banking services. CBE is the pioneer in introducing ATM payment system in Ethiopia and then after it got a Visa membership. Actually banking industry in Ethiopia hasn’t developed well and need to be modernized by introducing new E-banking technologies in the banking system therefore all banks operating in Ethiopia should recognize the need for introducing electronic banking system to satisfy their customers. These help them to fulfill the requirements of rapidly expanding domestic and international trades, and increasing international banking services. There is an increase in banks, bank branches and ATM usage by banks. The ATM demand is showing increment but there are no known companies that provide SKD/CKD assembling services. They are only imported as CKD and assembled for service by exporter representatives. For promotion of the E-banking in general and ATM in particular companies need to have their own assembling, service and maintenance factory due to the positive developments in financial, banking and commercial transactions Keywords: ATM; ITM; E-banking; FI; Banking; Market