Diebold Nixdorf has inked a six-year ATM-as-a-Service (AaaS) agreement with Austria’s new banking and financial services entity bank99.

Under the agreement, Diebold will set up and manage an end-to-end digital branch network for its partner bank.

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Valued at over $20m, the tie-up enables the Austrian bank to optimise its ATMs and enhance the self-service experience leveraging Diebold’s AaaS model.

With the AaaS model, the bank aims to integrate its self-service channels through a solution to accelerate scalability via hardware, software, maintenance, asset financing and managed services.

Launched in April 2020, bank99 is a joint venture (JV) between Austrian Post and the GRAWE Banking Group.

It offers enhanced services like cash recycling systems, customer service terminals and cash dispensing ATMs to postal and branch customers.

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bank99 chief sales officer Michael Wiedeck said: “With Diebold Nixdorf, we now have the resources and the business partnership to turn that vision into a reality at optimal cost to operate.

“As a banking start-up in the 21st century, the ability to scale our digital retail banking offering to our Austrian customers in many remote locations is not only valuable, but also absolutely critical.”

The AaaS agreement has been powered by Diebold Nixdorf AllConnect Services and has around 500 self-service ATM devices across 300 branches.

The ATMs will run on DN Vynamic software, which will allow the bank to stay connected with their consumers and help boost their self-service experience, noted the vendor.

Diebold Nixdorf Eurasia Banking SVP and managing director Neil Emerson said: “Through our ATM as a Service programme, we can optimise bank99’s internal operations, minimise the total cost of ownership and continually enhance the consumer experience.”