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Santander boosts self-service banking with NCR ATM as a Service

Wednesday 23 November 2022 14:10 CET | News

US-based technology provider NCR Corporation has expanded its partnership with Santander UK, the latter selecting NCR ATM as to run its self-service network of more than 1,700 ATMs across the UK. 

Santander UK, part of global Banco Santander S.A., is a commercial and retail bank serving more than 14 million customers in the region. With NCR ATM as a Service, the bank is shifting the operational management of its self-service channel, including software, transaction processing, cash management, ATM monitoring, help desk, hardware maintenance, and more to NCR. 

NCR optimises banking experiences for customers and staff through an end-to-end infrastructure that integrates to the broader enterprise and fintech ecosystem to transform, connect and run self-directed banking.

Kirsty Lacey, COO Everyday Banking at Santander has explained that conecting to NCR ATM as a Service will enable the bank to offer customers a better self-service banking experience, including greater ATM availability to serve them when and where they choose. It will also simplify their operations and provide a more sustainable service for the bank. 

Recent NCR moves in the ATM market

In January 2022, NCR Corporation completed the acquisition of LibertyX for an undisclosed amount. The LibertyX digital currency solution runs on ATMs, kiosks, and point-of-sale (POS) systems. Moving forward, NCR will use its Pay360 platform to offer the LibertyX capabilities as part of its solutions for banks, retailers, and restaurants. NCR Pay360 provides financial institutions a secure way to enable cash-in and cash-out transactions from their mobile banking app, website, or even customer service centers.

On August 2, 2021, NCR and LibertyX announced that they had entered into a definitive agreement under which NCR would acquire LibertyX. The transaction includes LibertyX’s cryptocurrency remittance business, LibertyPay. Financial terms of the transaction were not disclosed.

US-based technology provider NCR Corporation has expanded its partnership with Santander UK, the latter selecting NCR ATM as to run its self-service network of more than 1,700 ATMs across the UK.

 

ATM services on a global scale

According to MarketWatch, the global ATM-as-a-Service market was valued at USD million in 2021 and is expected to expand at a compound annual growth rate (CAGR) % from 2022 to 2030.

At the beginning of May 2022 there were 52,258 cash machines in the UK, 78% of which were free to use. The total number of ATMs in the UK peaked in 2015 and has fallen each year since then.

Between July 2018 and May 2022, the number of ATMs in the UK fell by 13,679 or 21%. There was a decrease in the number of ATMs in all regions and countries of the UK. The largest fall was in the London (-25%). The smallest fall was in Northern Ireland (-13%).

A recent study from the Business Research Company claims that Smart ATMs are a recent trend gaining popularity in the ATM market. Smart ATMs are automated teller machines (ATMs) that can do more than just disburse money. Smart ATMs allow for the implementation of cutting-edge technologies that improve the customer experience while also minimising fraud. Their recent data says that, in October 2021, Nations Trust Bank, a Sri-Lankan-based Bank, launched the first Smart ATM in Sri Lanka. 


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Keywords: ATM, partnership, online banking, contactless payments, cash
Categories: Payments & Commerce
Companies: NCR Corporation, Santander
Countries: United Kingdom
This article is part of category

Payments & Commerce

NCR Corporation

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Santander

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