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Off-site ATMs play important role in financial inclusion, report suggests

Tuesday 12 March 2019 11:50 CET | News

A report by RBR suggests that off-site ATMs and playing a vital role in financial inclusion.

As the report shows, there were 3.3 million ATMs worldwide at end-2017, of which 51% were located away from branches. The number and share of off-site ATMs continues to increase, with over 15,000 new such terminals installed during 2017.

Other key findings of the Global ATM Market and Forecasts to 2023 report:

  • with the exception of LATAM, off-site is the most common location for ATMs in every region;

  • nearly two thirds of the major markets surveyed have over 50% of ATMs installed away from branches;

  • over 1.7 billion people, mostly in Africa, South Asia, and LATAM, were unbanked at the end of 2017;

  • in Chile and Egypt, financial inclusion initiatives have contributed to off-site ATMs making up close to 60% of all ATMs;

  • banks in developed markets are streamlining their branch networks and turning to off-site ATMs as a more cost-efficient customer service channel;

  • in the Netherlands and Sweden, the number of branches has decreased significantly over the last few years; off-site terminals account for over 70% of all ATMs in both countries.


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Keywords: RBR, ATM, financial inclusion, bank, cash, payments
Categories:
Countries: World