Riyad Bank, one of Saudi Arabia’s top financial institutions, is migrating its entire portfolio to Gemalto’s Clarista Contactless EMV card, powered with the industry-standard MULTOS operating system. This is the country’s first contactless payment method.
Saudi Investment Bank (SAIB) will better serve customers with a number of new ATMs with video technology from NCR Corporation. NCR APTRA Interactive Teller will allow customers to complete over 95 percent of typical branch transactions right at the ATM, 24 hours a day, with the assistance of a live, remote teller. Configured with ‘scalable cheques processing module’ (SCPM), NCR APTRA Interactive Teller can accept and process cheques, while also enabling the remote teller to immediately cash cheques for customers from anywhere, at any time. As part of the agreement, NCR will provide software application development, system analysis, support services and related training programs.
Tapping the more than 6 million Saudi Arabian expatriates as the largest kingdom-wide money transfer network, MoneyGram International
has partnered with National Commercial Bank (NCB) to offer its
international money transfer service through the Bank’s 1,400 ATM
locations. Offering consumers convenience and access to money transfer
services through its network, MoneyGram transfers will be sent using
NCB’s “Quickpay” platform and initially only providing a sending option.
Thanks to the 27% foreign born Saudi Arabian population, remittances
grew to more than $17 billion in 2006. MoneyGram International has been
operating in Saudi Arabia since 1998 and is comprised of 180,000 agent
locations in 190 countries while NCB was established as Saudi Arabia’s
first in 1953.
Digital security provider Gemalto will deliver electronic ID cards to Saudi Arabia’s Ministry of Interior
National Information Center. Gemalto will provide NIC with e-ID cards for the next three years,
as well as support and maintenance for the centralized personalization
center in Riyadh. The Saudi Arabia national ID card is a wallet-sized card that embeds a
microprocessor containing the cardholder’s digital information such as
demographics, facial image and fingerprints. It also features a bar code
and an optical stripe to ensure enhanced security to citizens. The
national ID card can be used as a travel document that facilitates
legitimate travel within all GCC countries. In addition, the e-ID card
offers strong authentication to enable citizens to prove their identity.
Digital signature is also available through a Public Key Infrastructure
application. The national ID card is mandatory for all citizens
above 15 and valid for ten years.
Hypercom Corporation’s “Optimum T4210” card payment terminal has been
awarded Saudi Payments Network (SPAN2) certification by the Saudi
Arabian Monetary Agency making it the only high security electronic
transaction solutions provider offering both SPAN1 (old switch) and
SPAN2 (new switch) compliant terminals in the country. These
developments are part of on-going development efforts by Hypercom’s
distributor Alhamrani Universal Company banking and payment systems to
expand the organization’s presence throughout the country. The “T4210”
country-specific terminal software application is also TIP (Terminal
Integration Process) and ADVT (Acquirer Device Validation Toolkit)
Having defined the Middle Eastern region as an area of strategic focus
for the growth of secure ID solutions, LaserCard has received a $2.9
Million order for a Saudi Arabian National optical smart card ID
program, bringing the organization’s program total to $4.7 Million just
for 2Q/08. The Saudi Arabian cards will be continually issued through 40
offices in cities throughout the Kingdom and to which LaserCard has
supplied approximately $16 million of cards, software, hardware and
services since the program inception in 2003. LaserCard provides secure
ID solutions to governments and commercial clients around the world.
Samba Financial Group has made agreements to utilize Fair Isaac’s
consultation and analytical services, through Cadmus, to meet compliance
needs, determine credit risk and growth in services with its Basel II
ratings based compliance. The services will enhance the the bank’s
consumer card, mortgage and personal loan portfolios. The Basel II Accord
is a method used for calculating capital reserves to determine credit risk,
which experts project will be implemented as the standard for banks and
institutions by January 1, 2008. Cadmus is Fair Isaac’s local agent that
41 clients in 9 countries in the Middle East. Fair Isaac has clients in 80
countries for which the company implements solutions to increase customer
loyalty, cut fraud, manage credit risk, and meet regulatory demands.
Hypercom has announced that Al Rajhi Bank has purchased 4,000
Optimum card payment terminals. Among the terminals purchased is
the “Optimum M2100” wireless terminal which is portable, battery-
operated and allows for secure point-of-sale transactions. Purchase
orders were also made for dial-up card payment terminals. Al
Rajhi Bank has over 500 branches, 1600 ATMs, and 1200 installed
points of sale. The bank has capital of SR 13,500,000,000.
Hypercom provides secure payment solutions in over 100 countries.
Al Rajhi, a Saudi Arabian Bank, has collaborated with Malaysian
e-Kencana to create a funds transfer system to comply with Islamic
financial principles, including no interest-based gains and no links to
companies involved with tobacco, alcohol, or gambling. This funds
transfer is the first of its kind, known as Islamic Payment Switch (IPS),
and will first be introduced in the form of a debt card. This will be
marketed to Malaysians making the Mecca pilgrimage and migrant
workers in Saudi Arabia. The Debt card can be used at ATMs in Saudi
Arabia and plans to expand to other banks in Muslim countries.
Al Rajhi Bank (ARB) has licensed ACI Worldwide’s “Smart Chip Manager” and will use the software to manage the issuing and acquiring processes of its smart card deployment of 4.3 million cards over its 1,500 ATMs and 400 branches. “Smart Chip Manager” will enable ARB to issue debit cards that will support secure international EMV payments as well as the smart card enabled domestic SPAN2 payments framework. “Smart Chip Manager” will be used to migrate the credit card portfolio of ARB to the EMV standard. ARB will be the first bank in the region to instantly issue smart cards.
Al Rajhi Bank has selected Level Four Software to introduce new innovative
services at the Kingdom of Saudi Arabia’s largest ATM network. Level Four
will also help the bank comply with regional and international regulatory
mandates, notably EMV and SPAN 2, the second generation of the Saudi
Payments Network. Al Rajhi is in the process of upgrading its ATM network
to meet the EMV mandate for smart chip cards and Saudi Arabia’s
industry-wide migration to SPAN 2 to create a secure infrastructure for
electronic fund transfers. Al Rajhi Banking and Investment Corporation is
one of the largest joint stock companies in the Kingdom, with a paid up
capital of SR 4,500,000,000. Level Four is a provider of
test and development tools for the ATM channel and has offices in
Dunfermline, Maidenhead, Dubai and Miami.
Western Union Financial Services Inc., a global leader in money transfer
services, announced a strategic relationship with Bank Al Bilad of
Saudi Arabia to provide money transfer services to its customers in Saudi
Arabia. Bank Al Bilad is the second Western Union Representative in Saudi
Arabia after Saudi American Bank (SAMBA). This new agreement ensures that
the total number of Western Union Agent locations in Saudi Arabia now
exceeds 90 locations.