Many communities in Yorkshire have become all-too-familiar with the impact of bank branch closures in recent years, coinciding with a push towards a more cashless society as contactless debit and credit cards grow in popularity.
Now the world’s largest maker of ATMs, a company called Diebold Nixdorf, has revealed it intends to allow customers to apply for a loan or have a video chat with a mortgage adviser from their cash machines within five years.
The company insists it will complement banking services rather than replace them but this make provoke some cynicism. Those concerned about the ongoing decline of the bank branch may take some reassurance from the fact the company acknowledges its machines offering such services would likely need to be based in small bank branches or similar locations rather than from “hole in the wall” machines for obvious security reasons. The way we deal with our money looks set to transform again.