The service will provide information on the concentration level of ATMs in each area, the number of users, and the commission charged. (Yonhap)
SEOUL, Nov. 15 (Korea Bizwire) — A non-profit financial organization has introduced a new service to analyze the usage of ATMs across a number of regions.
The Korea Financial Telecommunications and Clearings Institute (KFTC) will begin testing the cash dispensers (CD) and automated teller machines (ATM) operational effectiveness diagnostic services jointly with the banking sector starting this month until March of next year.
The service will provide information on the concentration level of ATMs in each area, the number of users, and the commission charged.
The KFTC explained that the service will visualize ATM performance based on the location data of each ATM combined with transaction data provided by banks.
Twelve banks including the Industrial Bank of Korea will collaborate with the service.
“The new service is expected to help banks to relocate their ATMs and design new marketing strategies,” said the KFTC.
“We will come up with a model that gives all participants access to the big data, and open up financial information to assist banking businesses.”
Kevin Lee (kevinlee@koreabizwire.com)
