Poland's Idea Bank is taking a novel approach to the mobile banking phenomenon, with the launch of a fleet of automobiles fitted with ATMs that can be summoned by smartphone.
The bank has outfitted four electric BMW i3 automobiles with built-in cash depository ATMs that can be called upon by small businesses using the IdeaBank Money Collection app.
Entrepreneurs can also make an advance booking by entering the desired time and location of the service delivery and observe the car’s current position on a map.
Research conducted by Idea Bank has shown that one in three business owners use only cash transactions, and the remaining two use both cash and different methods of payment. Eighty percent of the respondents deliver their money to the bank in person, often doing so in the evening hours.
"Entrepreneurs who personally deliver their income to the bank or a stationary CDM waste both their time and money. Our service aims at lifting that weight off their shoulders," says Dominik Fajbusiewicz, Idea Bank board member.
The first vehicle has already hit the streets in Warsaw. Newer shipments will allow Idea Bank’s clients not only to deposit, but also to withdraw their money.
Depending on popularity, the service will be extended to other cities across the country, says Fajbusiewicz.
The project was developed in partnership with iTaxi, which prepared the mobile booking app available for Android and iOS.
In February, the innovative mid-sized lender launched a new bank branch in Warsaw staffed by trained baristas in a bid to entice small business owners away from local coffee shops with the aroma of freshly-brewed beverages, free office work space and bookable conference rooms.