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Worldwide Bank Kiosk Industry to 2026 – Asia-Pacific to Have the Fastest Growth

DUBLIN–()–The “Bank Kiosk Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.

The bank kiosk market was valued as USD 315 million at a CAGR of 27.54 % over the forecast period of 2021-2026.

Companies Mentioned

  • NCR Corporation
  • Diebold Inc.
  • Glory Limited
  • KIOSK Information Systems
  • Nautilus Hyosung Corporation
  • GRG Banking
  • Korala Associates Limited (Kal Atm Software)
  • Hitachi-Omron Terminal Solutions Corp.
  • OKI Electric Industry Co. Ltd.
  • Cisco Systems Inc.
  • Shenzhen Yi of Computer Co. Ltd

Key Market Trends

Multi Function Kiosk Expected to Grow at a High Rate during Forecasted Period

  • Multi-function kiosk in bank offers services such as cheque deposit facility with CTS interface, bill payment facility using a debit card and Net banking, browser-based Internet Banking, noncash/inquiry services including balance inquiry and mini statement, among others.
  • Multi-Function Kiosk helps in integrating different functionalities in a single platform helping various organizations to reduce their capital expenditure on investing in separate machines. Low capital expenditure in application development, equipment purchases, installation, and maintenance are major factors driving banks to adopt multi-function kiosks over single-function kiosks.
  • Further, the customer is preferring self-service solutions because it reduces their effort and time of performing banking transactions. According to a study by Source Technologies, self-service retail banking kiosks can offer significant improvements to physical branch locations.
  • For instance, usually, it takes customers 9 minutes to get an official check from a bank teller. But with self-service kiosks, the customer can get an official check in 40 seconds. Hence, customers can get their checks 13.5 times faster with a self-service kiosk.
  • Kiosk in the bank also offers employees to focus more on complex tasks and customer services reducing their time and effort on daily routine transactions which are expected to drive the demand of the bank kiosk market across the emerging economies.

Asia-Pacific to Have Fastest Growth Rate in Bank Kiosk Market

  • Asia-Pacific is expected to be the fastest-growing market during the forecasted period. The governments in the Asia-Pacific region are taking efforts to enhance the development of the Fintech industry and provide innovative banking solutions. The main aim behind the increased adoption of Fintech solutions is to attract international innovators in the market and take banking to the next level.
  • Further, the deployment of self- service kiosks is also increasing especially for the population which prefers banking through interactive kiosks to traditional banking. The market for self-service kiosks in the Asia-Pacific region is in the growth stage.
  • Moreover in emerging countries like India, major banks such as SBI, PNB, Bank of Baroda, among…

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banknewsnowhttps://www.banknewsnow.com
Founder and CEO of the premier banking news informational website for the banking/financial industry, and applicants seeking careers exclusively in the finance field.

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