Japan’s top banks said to mull joint ATM operation to cut costs

[TOKYO] MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank are considering jointly operating automated teller machines (ATMs) to reduce costs, said sources familiar with the matter.

The units of Japan’s three biggest banking groups are discussing details of joint operation, said the sources, who asked not to be identified discussing private matters.

The banks are seeing whether costs can be reduced for tasks needed to run ATMs such as monitoring, security and cash transportation.

An MUFG spokesperson said nothing has been decided as of now. Spokespeople for Sumitomo Mitsui and Mizuho were not able to immediately comment on the matter. BLOOMBERG