25 August 2016
Find out more

Indonesian banks target islanders with floating ATMs

23 May 2014  |  8298 views  |  2 Indonesia

An Indonesian bank has come up with a novel way to bring financial services to the archipelago's hundreds of inhabited islands - floating ATMs.

Indonesia is the world's fourth most populous country but only around a fifth of its 250 million inhabitants have bank accounts.

One reason for this is that the country is made up of more than 18,000 islands, 900-odd of which are permanently inhabited.

According to Bloomberg, Bank Rakyat Indonesia is hoping to address the problem by buying four customised boats which will house ATMs and cruise around, acting as floating branches.

Rakyat and Bank Mandiri already send cash to distant islands such as Run via ferry, with armed guards keeping an eye on the money.

Other companies are taking more high-tech approaches to banking Indonesia's disparate population. BlackBerry has introduced a P2P payments service within its BBM instant messaging system that lets users access an account from their phone and make real-time payments from within the app to their contacts.

Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 26 May, 2014, 17:21

India's largest bank, State Bank of India, has been running floating ATMs for around 5 years in Kerala, an Indian state with a lot of backwaters. 

1 thumb up! 1 thumb up! (Log in to thumb up)
Matthew Jones
Matthew Jones - Barclaycard - London | 27 May, 2014, 10:12

Sounds like a good move in this market

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Researchers propose acid-spitting ATMs to fight off thieves

Researchers propose acid-spitting ATMs to fight off thieves

09 May 2014  |  9112 views  |  2 comments | 13 tweets | 10 linkedin
A little short? Sainsbury's ATM built 15 inches off the ground

A little short? Sainsbury's ATM built 15 inches off the ground

28 March 2014  |  7846 views  |  2 comments | 12 tweets | 8 linkedin
Thieves tunnel their way to ATM cash

Thieves tunnel their way to ATM cash

20 March 2014  |  4941 views  |  0 comments | 10 tweets | 6 linkedin
Thief tries to blow up ATM, sets himself on fire

Thief tries to blow up ATM, sets himself on fire

22 November 2013  |  4848 views  |  0 comments | 6 tweets | 4 linkedin
Diebold pays $48m to settle bank bribery charges

Diebold pays $48m to settle bank bribery charges

23 October 2013  |  3701 views  |  0 comments | 1 tweets | 4 linkedin
BlackBerry trials BBM Money service in Indonesia

BlackBerry trials BBM Money service in Indonesia

11 February 2013  |  9520 views  |  0 comments | 16 tweets | 7 linkedin
Bank Negara Indonesia taps voice biometrics for password resets

Bank Negara Indonesia taps voice biometrics for password resets

28 March 2012  |  6155 views  |  1 comments
Monitise forms Indonesian JV; signs up Permata

Monitise forms Indonesian JV; signs up Permata

28 July 2011  |  6962 views  |  0 comments
ATMs ease sacrificial ritual

ATMs ease sacrificial ritual

10 January 2006  |  4214 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit equens.comVisit VocaLink.comVisit capgemini.com

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
8183 views 0 | 54 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
6965 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
6414 views 9 | 22 tweets | 8 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6116 views comments | 17 tweets | 19 linkedin

Featured job

Find your next job