Santander UK has grown its partnership with enterprise technology company NCR. This shows how banks are using ATMs to bridge the gap between traditional and online banking.
Santander has chosen NCR’s ATM-as-a-service to “transform, connect, and run its self-service network of more than 1,700 ATMs across the United Kingdom,” according to a news release from NCR on Monday, November 21.
Santander UK is a branch of the big bank Banco Santander S.A. It has more than 14 million customers in Britain and does business and retail banking.
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With the partnership, the bank is giving NCR control over its “self-service channel,” which includes software, transaction processing, cash management, ATM monitoring, help desk, hardware maintenance, and more, according to a press release.
The new partnership comes a little more than two months after NCR said it was splitting into two separate publicly traded companies, one of which would only deal with ATMs and the other with online shopping.
Frank R. Martire, executive chairman of the NCR Board of Directors, said at the time, “It has become clear that NCR has the chance to unlock value for our shareholders by separating our digital commerce business from our ATM business.”
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“We have made significant strides over the past four years in creating a leading software-as-a-service business while continuing to strengthen and grow the ATM business.”
PYMNTS said earlier this year that the ATM is a kind of “unsung hero” of the digital transformation of banking. About 41% of banking customers say that ATMs are a regular way they use banking services. About 11% of banking customers use ATMs as their main way to do banking.
People also like ATMs more than drive-up tellers, which only 5% of people say is their main way to bank. The growth of the global ATM market shows that this technology is still very popular. It will reach $20.18 billion in 2020, and its annual growth rate of 4.9% is expected to continue through 2028.
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