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Geldmaat: An example of ATM pooling in the Netherlands
Journal of Payments Strategy & Systems,
16
(1),
75-85
(2022)
Abstract
Geldmaat was established by ABN AMRO, ING Bank and Rabobank in 2019. After three years of working together, the three banks retired their respective automated teller machines (ATMs) on 1st October, 2021, replacing them with a network of ATMs owned and operated by Geldmaat. By combining forces to create Geldmaat, the banks have ensured that cash will continue to be available and accessible over the coming years. Nevertheless, the future of the cash chain in the Netherlands remains a topic of much discussion. This paper explains the transition process, from the initial steps in the pooling process to the rollout itself, in addition to the services now offered by Geldmaat. It then goes on to discuss the future of the cash infrastructure in the Netherlands.
Keywords: cash; digitisation; ATM pooling; cash chain
The full article is available to subscribers to the journal.
Author's Biography
Erik Kwakkel is Chief Executive Officer of Geldmaat, where he is jointly responsible for the day-to-day management of the organisation. As line manager for Geldmaat’s corporate office, he oversees such departments as strategy & business development, internal audit, technology & architecture, and security. Kwakkel previously worked at Rabobank for over 30 years, in such roles as Executive Vice President of Payment Services Operations and Senior Vice President of Cash, Cards, e-Commerce & Savings, among others.
Victor De Wolff has been Chief Financial Officer for Geldmaat since it was first established in 2019. As well as being responsible for its financial policy, he manages the legal, risk & compliance, finance and administration, treasury and procurement departments. His previous experience includes almost ten years as Finance Director of GSN, Geldmaat’s legal predecessor, and over 20 years in various positions at ING.
