Seven Bank, the banking arm of the 7-Eleven group from Japan, is aggressively expanding its reach in Malaysia by installing 100 Reachful branded ATMs across the country this year. The installations will primarily focus on suburban areas to provide financial access to residents with limited options.
Seven Bank , Ltd., the banking arm of the 7-Eleven group from Japan, aims to install 100 Reachful branded automated teller machines ( ATM s) across Malaysia this year. Masaaki Matsuhashi, President of Seven Bank Ltd., stated that the initial 100 installations will take place in the Klang Valley, Penang, and Johor. He further revealed plans to expand installations to Sabah and Sarawak by 2026.
\Seven Bank targets suburban areas to enable residents with limited access to banking services to benefit from these installations. They have introduced the new brand, Reachful, for a strong start in Malaysia and continued growth of their overseas business. \Through a partnership with a local company to provide ATM services at 7-Eleven stores in Malaysia, they hope to simplify the lives of Malaysians and contribute to faster social development and economic growth. Meanwhile, Jin Sudo, Chief Executive Officer of Abadi Tambah Mulia International Malaysia Sdn. Bhd., highlighted Malaysia's significant growth in population and Gross Domestic Product (GDP). He noted that with the increasing adoption of cashless transactions and high currency circulation, the market presents a strong potential for developing this business. \Since its first overseas ATM installation in the United States (US) in 2017, Seven Bank has expanded its operations in the US, Indonesia, and the Philippines, reaching over 21,000 ATM installations by last year. The company aims to provide unique value by integrating retail and financial services in the future. Reachful ATMs not only function as ATMs but also as cash recycling machines (CRMs), combining ATM and Cash Deposit Machine (CDM) functionalities. This allows customers to perform various transactions, such as balance inquiries, withdrawals, deposits, financing payments, bill payments, and fund transfers
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