Fujitsu’s project to manufacture ATMs for CaixaBank has begun

According to Money Market UK, in October 2014, an agreement was reached for Fujitsu to manufacture 8,500 ATMs for financial group CaixaBank in Malaga, Spain.

Both companies are devoted to adopting more innovative techniques, especially in ATM technology and other network services which will allow CaixaBank to renew their ATM network, according to Money Market UK.

Head of banking business at Fujitsu, Juan José Alert believes that traditional banking needs to evolve to keep up with new technological advances. “Retail banking is evolving to meet the changing needs of customers who are demanding greater financial flexibility and CaixaBank is at the forefront of delivering new ways to achieve this,” Alert said.

Money Market UK explains that this project is part of the 500 million Euro investment from CaixaBank and is expected to take 10 years. The new model called Punt Groc will have a contactless card reader to enable secure transactions where customers will be able to use mobile and wearable devices. Alongside this, automatic banknote recognition will help increase the availability of cash in the ATM and make the manual loading process much easier.

Accessibility seems to be at the top of CaixaBank’s list of priorities as they intend to implement the European Commission-funded APSIS4all initiative that helps those less tech savvy, disabled or older people use this new electronic device.

Money Market UK highlights that after Fujitsu has completed work in Spain, the company intends to expand further into the European market and when working with CaixaBank, a bank which is known for its innovation and new technology, more people will be able to use cashpoints.