Bankomat
Establishing a secure future for Sweden’s cash infrastructure
Bankomat, Sweden’s leading ATM operator, faced a critical challenge: how to ensure a long-term, sustainable supply of cash services through its ATMs. With no precedent for such an initiative in Europe in the past decade, this was a highly complex challenge.
Bankomat partnered with us to design and launch a cash operations unit from scratch. At each step of the way, we’ve been there to guide Bankomat through everything from building secure depots and contracting special vehicles to hiring and training personnel.
In just 24 months, the result was a transformative programme that enabled Bankomat to take full control of Sweden’s ATM network, delivering a secure, scalable, and future-proof cash handling infrastructure.
Understanding the national need for cash resilience
While the use of cash is declining due to digital alternatives, maintaining access to cash remains essential for societal resilience in an increasingly uncertain world.
The owners of Bankomat, the largest financial institutions in Sweden, are legally obligated to supply the country with cash services through its ATMs, and recent changes in legislation have led to higher requirements on both contingency and control over operations.
To meet these challenges, Bankomat decided to insource cash operations in order to increase control of a vital societal function.
The scale and complexity of the programme were immense. Our team was responsible for over 500 distinct delivery items, executed across eight workstreams, with us directing a team that at times exceeded 100 people. “The relationship was built on trust,” explained Mikael Schlaug, Financial services expert, PA. “Bankomat relied on us to lead negotiations, procurement and, implementation – which underscored the extraordinary level of partnership between the two organisations.”
This is a major project for Bankomat. It’s one of the first times a financial services specialist has insourced cash-in-transit services. Given that the Bankomat network is a key piece of national infrastructure, there is lots at stake. We needed expert support to design and deliver the project with confidence.”
Building resilient infrastructure for cash handling
Once approval for the programme was secured, the team moved quickly into the design and implementation phases. The challenge was to design a capability that could be stood up in two years, meeting regulatory demands while allowing for secure and efficient operations.
To start with, we had to decide where to place the new cash depots and transportation hubs. Optimising the location of depots and hubs to serve over 600 distinct locations called for innovative thinking. Our data scientists designed the algorithm to establish the optimum configuration for routes driven by the new secure fleet to identify the best hub locations. The results of the analysis were not only good for the environment but also helped shape the design thinking to optimise for impact and decision speed.
We combined advanced route simulations with local expertise to make sure every site offered maximum access and coverage.”
Our specialists then coordinated detailed negotiations with landowners and stakeholders and supervised construction, guaranteeing each facility hit stringent security and operational benchmarks.
Delivering future-proof technology solutions
With the programme underway, our experts started the search and selection of an end-to-end cash management system, a vital piece of the new capability. It was critical that Bankomat had the new cash management system ready to go in time for the migration to in-house operations, so we carried out a procurement process that applied rigour and speed, resulting in the signing of a vendor agreement just three months into the programme.
The implementation phase proved tricky as balancing integrations between existing vendors and new hardware was complex, in particular getting all business processes aligned.
Setting up a new organisation meant learning new things along the way, and we had to adapt and change our minds several times until it was ready to go live.”
Across the entire project, we provided expertise in end-to-end delivery, strategic planning, operational excellence, security, sourcing, people transformation, and agile project management.
Prioritising safety across Bankomat’s ecosystem
Keeping Bankomat’s people and assets safe was critical. To ensure this, we worked with Bankomat’s security team to contract and implement a security framework that included high-security vaults, extensive CCTV coverage, access controls, and alarm systems.
Another part of the security challenge was procuring equipped vehicles. We guided Bankomat through the process of selecting and customising its fleet of vehicles, always balancing security needs with the brand’s public image.
By taking a careful, phased approach, we minimised operational risk and helped Bankomat set a new security benchmark as a trusted cash custodian in Sweden.
The biggest challenge was delivering on the most essential parts to start operations – on a fixed timeline. Agile planning and clear stakeholder management allowed us to balance cost, quality, and security to achieve every milestone on schedule.”
Achieving national impact with lasting value
From board sign-off to full operational control took just 24 months – a remarkable feat considering a programme of this type would often take much longer, and building a single logistics facility can be a multi-year undertaking. In Bankomat’s case, we built six from scratch.
As a whole, the programme now has 75 dedicated people, 60 custom equipped vehicles, six new depots built to the highest standards, and three brand-new IT platforms underpin the operation.
Together, we’ve not only transformed Bankomat’s operations – we’ve fundamentally strengthened Sweden's financial infrastructure, securing access to cash for consumers nationwide. As Stefan Wikman, Head of Cash Operations at Bankomat, reflects: “This was a bold move for Bankomat – but one that was absolutely necessary. PA helped us see the bigger picture and build a solution that's both operationally sound and socially vital.”
PA’s expertise was instrumental in enabling us to deliver this innovative project to bring cash-in-transit services in house. We valued PA’s insights, the breadth of their experience, and their skills in supporting delivery. They were one of us.”
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