In Yemen, e-banking is a recent concept, but flying very quickly. Banks are learning about cost savings and quality service that comes with e-banking. Competition is expected to get fierce amongst banks as e-banking matures in the Yemen market.
The recent past, for most of the banks in the Yemen market, was just teller banking with no other delivery channels such as ATMs, POS, and Internet Banking etc. to be offered. However there were a few banks that were offering e-banking services. The awareness level of consumers for e-banking and e-payment services is increasing.
Watani Bank, for Trade and Investment, initiated to stand out from the crowd and offer state of the art e-banking and e-payment services. Amongst several competitor products and solutions, Watani Bank decided on TPS as the solution provider to meet their e-banking and e-payment requirements. Phoenix, our Middleware Switch, connects all the distributed hosts as an integral part of the e-banking and e-payment services infrastructure at Watani Bank, providing 24×7 services to the consumers.
Watani Bank’s number of ATM card holders has increased phenomenally in just a few months. The ATM network is now exposed to ATMs three times the former strength. The Bank is expanding and making great progress in the field of self-service banking. Watani Bank’s trust has developed for TPS and for the products and solutions that we have offered. This trust has given a firm a base to our professional working relationship with Watani Bank. We look forward to extend our services to the banking sector in Yemen for the industry to excel and compete with world class standards in terms of quality e-banking and e-payments offerings and services.
The current scenario of e-banking and e-payment services industry in Yemen, show signs of a promising future with immense growth potential. It is certain that with the right investment and strategies the market can be explored and be brought to amongst the leading e-banking industries in the world. The need is for the banking institutions to participate proactively for the upcoming times that demand technology and innovation.
