INTERVIEW: Seven Bank Aims to Introduce Next-Gen ATM around 2029

Tokyo, April 14 (Jiji Press)–Seven Bank aims to introduce its next-generation automated teller machine around 2029, ahead of the initially planned 2030, its president, Masaaki Matsuhashi, said in a recent interview. “We have to change our mindset to shorten our development cycle as times are changing drastically,” Matsuhashi said. The bank, an affiliate of retail group Seven & i Holdings Co., operates ATMs mainly in convenience stores as its main business. On Friday, it marked the 25th anniversary of its foundation. The bank’s fourth-generation ATM, currently in service, features a wide variety of functions, such as face recognition and electronic money top-up. Regarding the development of its fifth-generation ATM, Matsuhashi said, “We will draw up a concept within this fiscal year.” Under a capital and business partnership formed with major trading house Itochu Corp. last autumn, Seven Bank will start installing ATMs at outlets of convenience store chain FamilyMart Co., an Itochu subsidiary, this spring. This initiative is expected to increase the number of Seven Bank ATMs across Japan from the current 28,000 to 44,000, making the bank the largest ATM operator in the country, surpassing Japan Post Bank. An increased number of ATMs “will make it easier to actively invest in improving functions,” Matsuhashi said. The bank also plans to provide ATMs to regional banks and others to help them cut costs. “We’ve already received inquiries,” he said. END [Copyright The Jiji Press, Ltd.]