Africa Update:

Message to the ATM Industry from Mike Lee, CEO, ATMIA

Encouraging Signs For Our Industry

ATMIA understands the uncertainty of the times we live in. Yet, it seems in many markets this year that ATM transactions and cash usage are increasing and that the prospects for continued strong growth in ATM installations are good. RBR, for example, is forecasting average worldwide ATM shipments of 320,000 per year for the next five years¹. Cash and gold certainly become king in economically unsure periods.

ATMs carry the people’s safely banked cash. That is a powerful civic responsibility. Panic would really hit the streets if ATMs were shut down, eclipsing even the anxiety we have seen after stock and financial collapses on Wall Street. Such is the dependence that has evolved between people and this powerfully simple and effective self-service technology. We bring the bank right into the streets, the shops, the gas stations, the food courts, the airports: everywhere where people work, travel, shop and go about their daily business.

We are privileged to serve such an important, growing industry. Yes, there are challenges: the global credit crisis, the threat of fraud, the maturing of some ATM markets, etc. But there are opportunities brewing. As a non-profit with an 11 year track record of public service, ATMIA will reach out to the new governance regime of financial services, whatever its final shape will be, and continue to serve all sectors of the ATM industry to ensure we stay a Trusted Environment for all customers.

In times of crisis, it is good to do some soul-searching, reviewing and reshaping the core competencies of our business and thinking of ways to innovate in order to stay unique. I always go back to our core values as an organization and to our mission to check we are still living up to our standards of who we are and who we are becoming in a changing world. As an independent, non-profit trade association, our mission is: to promote ATM convenience, growth and usage worldwide; to protect the ATM industry's assets, interests, good name and public trust; and to provide education, best practices, political voice and networking opportunities for member organizations. We are here in good times and in bad times to serve you so that you can better serve your customers.

Together, despite the turbulence around us, we can still be passionate about this journey we are all on to achieve this mission to bring about the greater good of our industry. I, for one, am so focused on accomplishing our mission that I do not have time to wallow in fear or get overtaken by anxiety. I have solidly based hope for the long-term future of both cash and of our indispensable ATMs.

The long-term trend towards 2.5 million ATMs by 2013² is not going to be derailed.

Mike Lee
CEO, ATM Industry Association
October 2008