Sonect and Hypothekarbank Lenzburg unveil virtual ATMs

Tuesday 16 January 2018 13:49 CET | News

Sonect and Hypothekarbank Lenzburg have signed an agreement to offer bank customers the option to withdraw cash from virtual ATMs with their smartphone.

In order to make this possible, the bank has added Sonect’s financial app to its core banking system Finstar, extending its existing network of 25 ATMs via shops.

The first benchmarks will be activated until the end of the first quarter of 2018, the network then being expanded continuously. The data transfer takes place via an interface which the bank had put into the test run as part of its open API initiative in 2017. The new service is free for the bank’s customers.

Over the past few months, the bank has selected fintech companies to test the technology for its practical suitability. With the commissioning of this new function, the test phase is completed and the open interface is activated in the operational Finstar system.

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Keywords: Sonect, Hypothekarbank Lenzburg, ATM, Switzerland, payments
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce