News

Idea Bank mobile ATM fleet grows in popularity — and size

May 5, 2016

Poland's Idea Bank has announced the major expansion of its fleet of mobile ATMs. The initial units were launched last year to allow thousands of business owners to safely deposit their daily revenues within minutes of closing, a press release said.

In its first year of operation, the fleet expanded from four to 18 mobile ATMs operating in Poland's 12 largest cities. The FI now plans to further expand its fleet to a total of 30 machines by the end of this year.

Fitted in electric zero-emission cars, the mobile ATMs offer a safer alternative to traditional nighttime cash deposits at a local bank branch, the release said.

The service can be requested free-of-charge through a smartphone app. When summoned, a car arrives at the pick-up point within minutes, allowing the customer to deposit or withdraw money as needed.

According to the Idea Bank, the average deposit through the mobile ATM is three times larger than at a bank branch. Total monthly deposits exceed 630,000 euros ($721,000), the release said.

The mobile ATM fleet has won numerous awards, including honors at the BAI-Finacle Global Banking Innovation Gala. Additionally, other banks have expressed interested in the Idea Bank technology, the release said.

"Our research showed that one in three Polish micro-entrepreneurs accept only cash payments, and almost four out of five deliver income to their bank in person," said Idea Bank executive Dominik Fajbusiewicz. "By providing them with a convenient and secure way of depositing money, we have made their day-end business closing much easier. With the small and medium enterprises making up for 96 percent of all businesses operating in Poland, we want to help them fully unlock their potential by making the company's day-to-day management as simple as possible."

According to the release, Idea Bank specializes in tools and services designed to make it easier for small-scale entrepreneurs to run a business.