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Developing countries to see more ATMs

January 4, 2012 by Terry Dooley — SVP & CIO, ITS, Inc

A worldwide increase in the demand for cash is predicted to boost the global installed ATM base skyward over the next several years. Depending on which report you chose to pay attention to, the estimates predict an installed base as high as 3.9 million units by 2017.

To what do we owe this lofty prediction? Analysts believe global demand for cash is only part of the story.

Other factors include emerging ATM technology that will make cash withdraws simpler and more fun. One report cited promotional activities as a key driver for an increase in the number of units across the globe. A consumer preference for self-service banking, as well, is anticipated to be an important propeller for ATM use.

In terms of the global demand for cash, analysts expect cash withdraws to more than double over the next six years and believe the majority of the demand will come from Asia-Pacific, Central and Eastern Europe, the Middle East, and Africa.

As cash continues to be king across the world, how will your financial institution stay on pace with demand?