News

Japanese bank to test ATM cash on-call service

November 3, 2017

Japan reportedly has the world's largest proportion of senior adults, with more than 20 percent of the population above the age of 65.As a result, service providers in Japan are seeking new and innovative ways to serve the nation's senior population.

One of the latest ideas comes from Bank of Tokyo-Mitsubishi UFJ, Japan's largest financial institution, which has announced plans to test a mobile ATM concept in 2018.

According to a report by WTVY, an NBC news affiliate in Alabama, the BTMU "Cash Car" will serve bank customers in rural Japan, where permanent ATM placement is not practical.

The bank has a mobile app in the works that will allow customers to request that the ATM be brought directly to them for a cash withdrawal.

The car also will be used as a temporary mobile ATM at special event venues.

In August, Shimane Shinkin, another Japanese financial institution announced the launch of a mobile bank aimed at serving elderly Japanese in rural areas.

In April 2015, Poland's Idea Bank introduced a mobile ATM service that allowed small merchants to summon a vehicle specially outfitted with a deposit box and a cash machine.