Tietoevry Banking has announced that it has signed a five-year SaaS agreement with IC Cash Services, aiming to move forward with its plans to enter Germany’s ATM market.
Through a regulatory-compliant platform, the collaboration between Tietoevry Banking and IC Cash Services is set to support secure and efficient cash distribution across the latter’s European network of 2,500 ATMs while also facilitating cost reduction and operational efficacy in Germany’s cash ecosystem.
Entering Germany and expanding capabilities
IC Cash and its subsidiary, In2 Retail, operate nearly 2,500 ATMs across Germany, Austria, the Netherlands, Spain, Denmark, and Ireland. The companies have chosen to work with Tietoevry Banking and leverage its solution to support their growth strategy across these markets, utilising the firm’s private cloud-based ATM service security and scalability.
The SaaS agreement between the two companies also marks the start of a collaboration in the German and Austrian markets, where IC Cash Services and Tietoevry Banking intend to deliver more efficiency and develop ATM pooling solutions. Currently, Tietoevry Banking ATM Services connects 10,000 ATMs across the Nordics and the Netherlands, where its delivery model supports the reduction of banks’ cash management costs. By offering this approach in Germany, the company is set to contribute to more sustainable cash circulation in a market with approximately 50,000 ATMs, further solidified by support for the Girocard domestic scheme.
Furthermore, talking about the move, representatives from Tietoevry Banking emphasised that the partnership with IC Cash Services comes as an important step in bringing their company’s ATM solution to Germany. When it comes to banks, ATM operators, and consumers, this initiative will offer them more secure access to cash, assisted by a regulatory-compliant SaaS platform. Tietoevry Banking aims to facilitate similar benefits to the German market as it has provided across the Nordics and the Netherlands, as well as support for the Girocard system, which is central to the country’s payment ecosystem.
