Bank Rakyat, an Indonesian lender, has come up with a novel method of offering banking services to its customers residing at faraway islands with the introduction of floating ATMs.
Dubbed as floating ATMs, the novel way of offering financial services will enable the bank to serve the millions of islanders living at 17,500 islands across Indonesia, as reported by Bloomberg.
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The strategy will also boost financial inclusion among Indonesians, as only around a fifth of 250 million inhabitants have bank accounts, which is one of the fourth most populous nation in the world.
The news agency further reported that the bank is considering buying four customized boats which will be equipped with ATMs, acting as floating branches.
Both Rakyat and Bank Mandiri already send cash to distant islands with armed guards.
BlackBerry has rolled out a P2P payments service within its BBM instant messaging system, which enables customers to access an account from their phone and make real-time payments, reported Finextra.
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