Desjardins: 2028, the end of automatic teller machines

VAT New

Thursday, 22 march, 2018 19:05

UPDATE
Thursday, 22 march, 2018 19:08

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Desjardins will end for good with the atms in 2028. VAT News has learned that the financial institution is preparing to replace these 2000 atms by new ones, more modern. This will be the last to serve Quebecers.

“We really want to make a u-turn on the mobile, the smart phone. Not the tablet, not the computer!” lance Guy Cormier, president of Desjardins. It is three billion that we will invest to make this shift towards more digital, more close to the people.”

The generation of milléniaux, the 18-34 age group, shakes up the traditional ways of doing things. In search of digital services, and custom, the young people are forcing financial institutions to evolve quickly to remain competitive. “You must not think that we are going to close Friday night and reopen Monday morning in a completely different way,” insists Mr. Cormier. The transition will be fast, but “step by step”.

Moreover, the leader believes that the response of municipalities to the removal of counters is too severe with respect to Desjardins. “Often, Desjardins group is the last to close. There are often more school, more restaurant, more and more market power. We made the choice to leave last, and sometimes I have the impression that it is more of us who do criticize.”

New competitors

In the banking sector, the competition to attract the milléniaux turns, and Desjardins is carefully monitoring the american giants of the web. Amazon has also announced ins intention, recently, to launch financial services.

“It would be a lie to say that when I see the extent of their financial means, I do not monitor. I wish our governments to be as rigorous as with the financial institutions,” says Mr. Cormier.

The milléniaux now represent 25% of the clients of Desjardins group. The institution is pleased to have an annual growth that ranges between 8% and 12% in this segment.