Tokyo-based Seven Bank announced in December that it had reached an agreement with Nara City-based Nanto Bank Ltd. to provide turnkey service for Nanto’s off-premises ATMs.
The agreement calls for Seven Bank to replace Nanto ATMs installed outside office and branch premises (mainly at stations and universities) with its own ATMs and to operate them jointly with Nanto Bank.
The agreement covers comprehensive ATM management, including cash forecasting, replenishment, and troubleshooting, and is expected to contribute to the reduction of operation and maintenance costs for Nanto Bank.
Installations will begin this month; the new ATMs will offer withdrawals, deposits, and balance inquiries for Nanto Bank cardholder accounts.
The machines will also support transactions on cards from an additional 600 financial institutions across the region, and from global networks that include Visa, Mastercard, UnionPay, American Express, JCB, Discover and Diners Club, plus electronic money transactions on nanaco and Rakuten Edy prepaid cards.
As of last June, Seven Bank had agreements in place covering the installation and operation of more than 449 ATMs for 26 clients. The Nanto contract represents Seven Bank’s first agreement with a regional bank to operate multiple ATMs collectively.