Welcome to NoteMachine’s annual roundup, where we celebrate the highlights of the year, and look forward to the next.
In January, we caught up with David Dove, President of Brink’s Global ATM. Brink’s acquired NoteMachine in October 2022, seeing an opportunity to focus on the FI community for ATM outsourcing. Brink’s is already operational in France with all 10,500 ATMs owned and managed by Brink’s, as well as 650 ATMs in Ireland. Brink’s has also won a major financial institution in the Baltic States with 700 ATMs, 250 in Brazil and 150 ATMs in the Philippines. The US portfolio of ATMs has also grown by 10% in less than two years and the count now stands at 110,000 ATMs.
Since the acquisition, Brink’s now has access to NoteMachine’s deep intellectual capital and full-stack infrastructure in the UK. NoteMachine has a core processing engine with five large cash depots nationwide and over 100 engineers available to maintain and repair ATMs.
NoteMachine’s Managed Services
UK banks need to consider more than just their ATM network: elements such as cash in transit, engineering, scheduling, IT infrastructure and technical capabilities are all core components of the banking business model. NoteMachine’s end-to-end managed services provide comprehensive support to help FIs drive business growth.
NoteMachine makes sure customers’ money is always available and accessible by providing one of the largest ATM networks across the UK and beyond. With over 9,500 cash machines in operation, we process more than 29 million transactions at our ATMs every month. It’s what we do, day in, day out.
NoteMachine now offers cash withdrawal and deposit services, providing 20% of all the cash in the UK. Since November, every bank can take deposits via NoteMachine’s ATMs and AXIS hubs. They can sign up to the newly-governed LINK scheme, rather than having a direct relationship with NoteMachine (but they can still come to NoteMachine directly, via a bilateral agreement). This means greater choice and flexibility for banks and consumers alike. Five major banks have signed up already, and by the end of March 2024, we expect the majority of UK banks to have taken up this option, giving them utility banking at their fingertips.
Tackling access to cash
Bank branch closures and the removal of ATMs is an ongoing issue that is leaving consumers with limited access to cash, especially in smaller towns and more rural areas. The unprecedented rate at which high street banks are closing is not only holding local economies back, but also making life challenging for the most vulnerable people in society who depend on easily accessible face-to-face banking.
Access to cash for all is still a huge topic, and the UK government has pledged to keep it at the top of their agenda. NoteMachine also wants to keep the access to cash debate at the forefront. The banking industry is collaborating to meet government and customer demands for a retained physical presence, and NoteMachine is a partner of choice to government and industry for the future of cash infrastructure. We are focused on giving banks and their consumers the choice of how and where they manage their cash.
The launch of our AXIS hubs
NoteMachine has invested heavily in AXIS hubs over the past year. Our hubs are a unique, innovative and scalable solution that can revolutionise the user experiences in the face of bank branches closing. The fact that they are white labelled and can be branded and customised to any bank’s specific requirements in under-served areas means that banking customers benefit from the same user experience as a high street bank. AXIS hubs are modern, sustainable and quick to install and – whether single-branded or multi-branded facilities – they are an attractive alternative to physical branches for financial institutions.
AXIS hubs offer many beneficial services:
- A physical unit with extensive banking facilities, including deposit and withdrawal transactions
- Free access to cash for all customers of partnering financial institutions
- Face-to-face support, as well as fully managed and joint-service operating models
- Dedicated account managers, providing a single point of contact
- In-house engineering, CIT, transaction processing and service centre support
- LINK compliance and upgrades by NoteMachine
AXIS hubs have been successfully launched this year for TSB in Wood Green, Wigan and Luton, where there were no remaining bank branches. More hubs will be launched for other major banks before the end of year as AXIS continues to meet bank and consumer needs. The demand for AXIS hubs will only increase as more bank branches close. That need is replicated in other countries around the globe, so NoteMachine’s objective for the coming year is to maintain and increase traction in the UK and worldwide.
People are NoteMachine’s biggest asset and the core of our business. NoteMachine started off as a family-run enterprise, and has grown into a respected, trustworthy business. Many of our senior managers started at the bottom and worked their way up, which is testament to NoteMachine’s commitment to our people.
We would like to acknowledge and thank our dedicated teams, whose expertise, knowledge and commitment continues to deliver exceptional financial services to our clients. We have incredible teams of people behind us: from service desk and cash management, to accounting, security and field engineers. They all have a vital part to play.
This year, we have conducted and published detailed interviews with our CEO and CTO, as well as heads of Cash Management, Service Desk, Engineering, Security and ATM Estate Acquisition and Management. These candid interviews provided great insight into how teamwork and collaboration helps to build and nurture relationships, both internally, and with our customers. You can read more here.
We are excited about the future of NoteMachine, and will be continuing to prioritise customer success. AXIS hubs are an integral part of our long-term growth proposition, and we also remain focused on our commitment to financial excellence and client-centric managed services.
Thank you to our clients, employees and stakeholders for a year of growth and trust in our services. All that remains is to wish you a Happy Christmas with your loved ones, and a peaceful new year.