Nordea and Sampo to establish Baltic ATM network

Nordea and Sampo to establish Baltic ATM network

Scandinavian banks Nordea and Sampo are teaming up to set up an extensive cross-border ATM network that will cover all three Baltic countries - Estonia, Latvia and Lithuania.

In a joint statement the banks say the first ATMs - which will feature logos of both banks - will be operational in Baltic countries in September.

First Data will develop and maintain the cross-border ATM network, which will eventually consist of 400 cash machines - with 100 units in Estonia, 100 in Latvia and 200 in Lithuania.

The banks say that other financial services firms will be invited to join the network.

Thomas Neckmar, head of Poland and Baltic countries, Nordea, says: "In the past we have been cautious to open up ATMs in the Baltic markets but we need to meet our increasing number of customers' demands for easy access to cash. We believe that cash withdrawal is a customer service, which can be effectively performed in co-operation."

Georg Schubiger, head of Sampo East European banking, adds: "After the creation of the joint ATM network, customer service and cash access for our clients will improve considerably. This joint project is a good example of successful cooperation between strong competitors in a non-core area."

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