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February 24, 2017

Innovation and recognition

By Anna Milne

Poland’s innovative Idea Bank has hit on a real winner. Douglas Blakey writes

Idea Bank’s mobile ATM deposits in March hit a record high of PLN51.5m ($13.2m), up 418% year-on-year and 38% more than in February. Mobile ATMs  account for more than 20% of cash in transactions at the bank.

Two years after its initial launch, the service now comprises 19 vehicles, to increase by a further 18 by the end of June. The cash pickup service is now available in 14 cities.

There are around 6,300 ATMs in Poland. Figures from the Polish central bank disclose that the average fixed ATMs attract average monthly deposits per device of PLN792,000; by contrast, one Idea Bank Mobile ATM collects an average of PLN2.7m per month, making it 242% more effective than a usual stationary device.

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