A Northern Ireland-founded cash management company has bought Danske Bank’s non-branch ATM network for an undisclosed sum.
The move will see Pivotal take control of 107 ATMS in the province while Danske will continue to own and operate the 85 located at its branches across Northern Ireland.
Pivotal, formerly known as RMS Group Services, was founded in 2005 with a branch in Belfast and has since grown to provide services across the UK and Ireland. It specialises in cash and valuables in transit, cash processing, coin and note supply, foreign exchange and merchant services.
The move follows the banking world’s fast-growing switch to digital banking and the decreasing use of cash by consumers. Danske has been a keen proponent of digital banking in Northern Ireland for a number of years and said the divestment will allow it focus on its core activities.
“We remain committed to serving our customers through a wide variety of options and we continue to invest in both our branch network and our digital channels,” Vicki Hassan, Operations Director at Danske Bank, said. “To invest and grow we must also continually look for ways to simplify our operating model.
“This decision will allow us to further support the business by freeing up time and resource to focus more efforts on our core banking activities. We’re pleased to have found in Pivotal a local specialist provider with strong experience in owning and managing ATMs and who can therefore ensure a continued high level of service and ATM availability for consumers across Northern Ireland.”
Pivotal, meanwhile, said its acquisition fits it with its strategy.
“As a local company we’re proud to be taking over the mantle from Danske’s long established relationships with site owners across Northern Ireland,” Rónán Harper, Chief Executive Officer, Pivotal said. “This acquisition is a natural fit for our strategic business growth and allows Pivotal to ensure our communities in Northern Ireland will still have their much needed access to cash. Our priority now is to ensure a smooth transition and that consumers benefit from the same high level of reliability and service.”
