Dolphin’s parent company, Euronet (NASDAQ: EEFT), the leading global financial technology solutions and payments provider, announced today an agreement with Swedbank to acquire the bank’s 1,100 ATMs and provide ATM outsourcing services across 3 countries. This announcement strengthens Euronet’s presence in Europe and enhances its compelling ATM proposal to consumers, businesses, and banks, driven by Ren and Euronet’s operational excellence model, ensuring utmost availability, security, and high-quality services.
Under the agreement, Euronet will acquire all in-branch and off-branch ATM assets across the three Baltic countries, facilitating a smooth transition to Euronet’s advanced Ren payments processing platform and integrating it with the bank’s current systems. The Swedbank ATM network consists of 1,141 ATMs (373 in Estonia, 362 in Latvia, and 406 in Lithuania), entailing both cash withdrawal and cash deposit/recycling machines. The migration process will begin in the Fall of 2025.
This arrangement will optimize and efficiently sustain Swedbank’s ATM fleet, improving services for customers while concurrently reducing operational costs and capital expenditures. It ensures a seamless user experience with consistent screen flows, transactions, and branding, maintaining Swedbank’s brand elements and visibility across the network.
“We expect the transfer of ATM network services to Euronet to speed up the modernization of our ATM network in Estonia, Latvia and Lithuania, thus bringing our customers added value while keeping the same interface,” said Olof Sundblad, Acting Head of Swedbank Baltic Banking.
The Baltics agreement builds on Euronet’s initiatives for global ATM expansion, including recent acquisitions and network services for multiple banks. In addition to growing its footprint, Euronet’s strategy includes furthering its Independent ATM Deployment and forming strategic agreements with financial institutions seeking operational efficiencies and broader product offerings.
For more information, please visit the company’s website at www.euronetworldwide.com