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Fintech and payments provider Euronet has entered an agreement to acquire Swedbank's ATM assets and offer ATM outsourcing services in Lithuania, Estonia, and Latvia.
This acquisition will include in-branch and off-branch ATMs, totalling 1,141 machines across the three Baltic countries.
The move also includes migration to Euronet's Ren payments processing platform, which is scheduled to commence in the fall of 2025, and integration with the bank’s current systems.
Euronet will retain Swedbank's ATM branding elements and signage, keeping the bank's brand displayed throughout the network.
The acquired ATM assets will be intergrated into Euronet's independent ATM network IAD, offering additional touchpoints and services for customers.
Euronet Americas and EMEA EFT Division executive vice president and CEO Nikos Fountas said: “As an important element of our growth strategy, this agreement strengthens our position as a catalyst for ATM consolidation with our superior technology, operational services and wide range of products. Across Europe, our experience enables us to drive a wave of ATM innovations, and we are confident that this trend will further accelerate.
Swedbank Baltic Banking acting head Olof Sundblad said: “We expect the transfer of ATM network services to Euronet to speed up the modernisation of our ATM network in Estonia, Latvia and Lithuania, thus bringing our customers added value while keeping the same interface.”
Euronet’s strategy involves increasing IAD deployment and forming agreements with financial institutions seeking to improve ATM networks, efficiency, and product offerings.
"Euronet signs agreement to acquire ATM assets of Swedbank " was originally created and published by Retail Banker International, a GlobalData owned brand.
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