Tag: ATMs

Bank of Ireland begins rollout of c.650 new ATMs as part of €60m investment in branch network

Bank of Ireland has begun the replacement of its entire ATM fleet as part of a €60 million investment in ATMs and branch improvements.

14 new ATMs have already been installed at Bank of Ireland’s branches in Roscommon town, Drumcondra, Castlebar, and Roscrea with c.150 more to follow (at over 40 locations) this year.

A rolling programme of works between now and the end of 2027 will see c.650 state-of-the-art ATMs installed in all Bank of Ireland branches across the island of Ireland, the Bank’s largest single investment in ATMs in the last decade.

The new ATM fleet has greater cash processing capacity and will slash energy use by more than half. The ATMs can be used for both withdrawals and lodgements and the majority will ‘recycle’ cash (i.e. cash deposited can be used for withdrawals). This maximises ATM availability, supporting customers with better access to cash when they need it. The investment also covers five years of servicing and maintenance.

To support customers with visual impairment, all the new devices have high-contrast screens and give customers the option of plugging into an earphone socket so they can be guided through their transaction by voice assistance.

Commenting on the investment in branches and ATMs, Susan Russell, CEO, Bank of Ireland Retail Ireland said: “As a full-service retail bank with a presence right across the island of Ireland, we are committed to continually improving our services and our customers’ financial wellbeing. This means investing purposefully in branches, contact centres, technology, ATMs and other infrastructure to ensure we have the most modern and efficient banking services available.

Our new ATMs have greater cash processing capacity, are more energy efficient, and have additional accessibility features. Renewing the entire fleet is a major investment but it will enhance our customers’ access to cash. We are excited to see the first new ATMs now installed and we’re pressing ahead with the rollout to the rest of our branches.”

Revolut co-founders reveal 2025 vision: AI, mortgages, and ATMs

Revolut co-founders Nik Storonsky and Vlad Yatsenko took to the stage at the company’s The Revolutionaries event in London to celebrate 50 million Revolut customers and share the company’s future product vision for 2025 — which include AI, mortgages, and ATMs.

Revolut, which has grown by over 10 million customers globally in 2024 so far, is now focused on accelerating the roll out of innovative products and services to continue disrupting global financial services in its bid to become the world’s first truly global bank.

Amongst the key highlights announced at the event:

  • Artificial Intelligence (AI)
    • Revolut announced its new AI-powered assistant to consumers. Revolut’s financial companion will adapt to customers’ needs and preferences in-app, guiding them towards smarter money habits, enhanced financial decision-making and streamlined admin. The company will aim for a gradual roll-out next year, which will be developed over time as the potential of AI to simplify and transform personal finance continues to unfold.

  • Mortgages
    • As Revolut continues to shake up traditional financial service offerings, the company confirmed plans to launch its mortgage product in Lithuania followed by Ireland and France in 2025. The goal is to offer a fully digital mortgage product that is the fastest on the market, aiming to issue instant approval in principle and final offer in one business day subject to asset valuation and any necessary checks. Mortgages will form part of the comprehensive credit offering Revolut is looking to build, with the company also exploring overdrafts. 

  • ATMs
    • Revolut will soon start rolling out branded ATMs – bringing these to Spain for use in early 2025. Revolut ATMs will dispense both cash and cards, and in the long-term accept cash deposits, with advanced security through facial recognition identity authentication. 

  • Revolut Business
    • In 2025, Revolut Business will bring its first business credit product to Europe and aims to offer one of the top business savings rates in all EU markets next year. Revolut Business also plans to help companies manage their restaurant and store operations with Revolut Kiosk, for which it is exploring biometric payments, and plans to continue to push its Revolut Pay offering with multiple payment methods including, in future, Buy Now Pay Later.

Nik Storonsky, Revolut’s CEO and Co-Founder, said: “2024 has been a significant year for Revolut, with millions of new accounts opened and innovative products launched across our markets. 2025 will be bigger and better. We want to revolutionise banking for the better and we’re on the right path to achieve this.”

Antoine Le Nel, Chief Growth and Marketing Officer, at Revolut said: “Revolut continues to change the face of finance. We’ve grown to over 50 million customers in less than a decade, a tremendous achievement, and proof that consumers want more from their money. Our ‘The Revolutionaries’ event is a fitting celebration, but we aren’t stopping there. We are already on the road to 100 million customers, and to becoming the world’s first truly global bank.”

Revolut unveiled its 2025 vision today at its The Revolutionaries event in London, which is currently underway. Featuring game-changers and revolutionaries across the worlds of music, business, fashion, sport, gaming, travel and entertainment, the event will close tomorrow with a headline performance from Charli XCX ahead of her sold-out tour.