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Seven Bank to Launch ATM Network in Malaysia, Expanding Its Global Presence

Prime Highlights: 

Seven Bank, part of the 7-Eleven group, is launching an ATM network in Malaysia, marking its fourth international market after the U.S., Indonesia, and the Philippines. 

The first cash recycling ATM has been installed in Rawang, with plans to deploy 100 more machines across key regions, including Kuala Lumpur, Selangor, Penang, and Johor. 

The initiative focuses on improving banking access in suburban areas with limited traditional banking services. 

Key Background: 

Seven Bank, the banking arm of the 7-Eleven group, has announced its expansion into Malaysia with the launch of a new ATM network. This move marks the company’s fourth international market, following successful operations in the United States, Indonesia, and the Philippines. 

The bank has already installed its first cash recycling ATM in Rawang, Malaysia, and plans to roll out an additional 100 machines across key regions, including Kuala Lumpur, Selangor, Penang, and Johor. This initiative is aimed at enhancing banking accessibility in suburban areas where traditional banking services are often sparse, providing greater convenience to underserved communities. 

Malaysia’s strong economic growth and high circulation of cash, despite the increasing trend towards cashless transactions, make it an attractive market for Seven Bank. The company had installed more than 21,000 ATMs globally by 2024 and sees Malaysia’s expanding population and robust GDP as key factors in its decision to enter the market. 

Seven Bank’s expansion strategy in Malaysia includes plans to introduce additional ATMs in Sabah and Sarawak by 2026. The company intends to collaborate with local partners to leverage its expertise in integrating retail and financial services, providing greater value to Malaysian consumers. This will be facilitated under the new brand name “Reachful,” which Seven Bank has established specifically for its Malaysian operations. 

Masaaki Matsuhashi, President and Representative Director of Seven Bank Limited, emphasized the importance of collaboration with local partners to foster the growth of the ATM network in Malaysia. He stated, “By deploying ATM services in 7-Eleven stores across the country, we aim to enhance the lives of the Malaysian people and contribute to the social and economic development of the nation.” Seven Bank’s expansion into Malaysia represents a significant step in the company’s global growth strategy, with the goal of improving access to banking services for a broader segment of the population. By utilizing its established global expertise and focusing on areas with limited banking infrastructure, Seven Bank aims to meet the evolving needs of the Malaysian market and contribute to its long-term economic development.