or wait 15 seconds

Automated deposit use to surge in global ATM deployment by 2024

Automated deposit use to surge in global ATM deployment by 2024

More than half of the world's ATMs will offer automated deposit terminals by 2024 as banks invest more in self-service and provide additional options for customers to make efficient, real-time deposits, according to research from London-based RBR.

The report found that the number of terminals will rise 14% to 1.6 million, and ADTs will comprise 52% of the total. The largest deployment will be in the U.S., where about 40,000 ADTs are expected to be deployed. 

Brazil and India will also see a surge in deployment amid an increased focus on financial inclusion, with about 34,000 deployments in each country. 

"Although the technology has been available for decades, the number of deposit ATMs installed worldwide continues to demonstrate healthy growth," according to Sam Blackwell, who led the research in the report. "Banks are now expected to pivot further towards recycling as the radio of withdrawals to deposits narrows and CIT grows, presenting increased opportunities for cost savings.”

More banks are employing cash-recycling technology, which in the past was perceived as too expensive or complex.

Cover image: iStock

Topics: ATM History, ATM & Mobile Banking, Cash Dispenser / Recycler / Acceptor, Installation / Deployment, Trends / Statistics

Sponsored Links:

Related Content

Latest Content

Get the latest news & insights