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▼ Japan's 3 Megabanks Consider Operating ATMs Jointly
- Category:Event
TOKYO - Japan's three megabanks are considering jointly managing and developing automated teller machines to cut costs and boost profitability as they struggle in the extremely low interest rate environment, a source close to the matter said.
MUFG Bank Ltd, Mizuho Bank Ltd and Sumitomo Mitsui Banking Corp expect demand for ATMs to reduce due to the spread of online banking.
The banks are seeking to discourage the use of cash by cutting down on the approximately 20,000 machines they collectively run in the country, the source said.
Currently, the three banks develop ATMs separately and their bankbooks that can be used to conduct transactions at the machines are different.
Services offered by the new jointly-operated ATMs are expected to be simplified, with the ability to print transaction records on the bankbooks removed.
The banks plan to start replacing older machines with the new ATMs within few years and will focus on those near train stations and in commercial facilities where the banks' operations overlap, the source said.
© KYODO
MUFG Bank Ltd, Mizuho Bank Ltd and Sumitomo Mitsui Banking Corp expect demand for ATMs to reduce due to the spread of online banking.
The banks are seeking to discourage the use of cash by cutting down on the approximately 20,000 machines they collectively run in the country, the source said.
Currently, the three banks develop ATMs separately and their bankbooks that can be used to conduct transactions at the machines are different.
Services offered by the new jointly-operated ATMs are expected to be simplified, with the ability to print transaction records on the bankbooks removed.
The banks plan to start replacing older machines with the new ATMs within few years and will focus on those near train stations and in commercial facilities where the banks' operations overlap, the source said.
© KYODO
- May 14, 2018
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