CAGR of close to 40 percent
CRMs are dual-function machines that merge the cash dispensing functions of ATMs and the cash deposit functions of CDMs. CRMs accept cash from depositors and dispense them to withdrawers, so cash is essentially ‘recycled’. Banks are benefitting from the cost- effectiveness of CRMs in areas of cost of ownership, lower cash holding and reduction in cash handling cost. Banks can typically save between 25 to 30 percent in both capital expenditure and annual operational costs.
These significant savings have been a major driving factor for banks to undertake major fleet replacement and consolidation, resulting in the exponential growth of CRMs. In the last five years, the total number of CRMs in the market has grown exponentially with a Compound Annual Growth Rate (CAGR) of close to 40 percent.
Source: Annual report
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