Banks show increasing interest in pooling and sharing ATMs, study shows

Monday 15 March 2021 10:10 CET | News

A study made by RBR shows that cost pressures is driving banks in more countries to consider pooling or sharing of ATMs.

The study, named ‘Global ATM Market and Forecasts to 2025’ shows a prolonged decline in demand for cash in several countries, a trend that has been thrown into sharp relief by the growth of e-commerce during the COVID-19 pandemic as well as hygiene concerns around cash handling.

The three largest banks in the Netherlands are currently in the process of transferring their ATMs to the Geldmaat network. Likewise, in Belgium, the four major banks have signed an agreement to jointly manage a single network of ATMs under a neutral brand. The first such ATMs are expected to be deployed in the middle of 2021. 

While Europe is home to many of the established and emerging ATM pools, the study also identifies some notable examples in other regions. TecBan, which runs Brazil’s shared ATM network, has taken over most of the country’s previously overlapping off-site ATM estates.

Even in markets without formal ATM pooling arrangements, sharing ATMs through multibank networks is growing. RBR’s research reveals various approaches across different markets, with many having well-established ATM networks enabling interbank transactions. Some banks also utilise bilateral or multilateral agreements to offer fee-free transactions to each other’s customers.

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Keywords: study, ATM, COVID-19, banks
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech