Scotland has lost 1,048 ATMs (-17%) since July 2018, according to new research from Swedish Banking as a Service provider Intergiro.
The research shows that as of May 2022, Scotland had 5,106 ATMs, that’s 9.3 ATMs per 10,000 residents.
In addition, the data shows Glasgow Central has lost 92 ATMs since July 2018, with 258 still remaining.
The UK as a whole had 52,258 as of May 2022, which is down 13,679 (-21%) on July 2018.
Intergiro Chief Executive, Nick Root, believes that the decline in ATMS is just one part of a larger trend towards companies embedding financial services into their platform and products.
Root said: “As we move into 2023, we anticipate that the trend of embedded finance will continue to grow rapidly. More and more companies are offering comprehensive suite of embedded finance APIs, reducing the barriers to entry for new companies wanting to provide innovative financial services to their target market, catering specifically to their customers’ needs.”
