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Sydney, Australia: The Banktech Group Pty Ltd (Banktech), the owner of the CashConnect ATM Network, today announced it has acquired Authentic ATM Pty Ltd (Authentic ATM).
Authentic ATM owns and operates a network of 300+ ATMs that are primarily located in NSW hotels and clubs. The combined ATM network will now exceed more than 2,500 ATMs making Banktech one of the largest independently owned ATM networks in Australia.
“We are excited about the transaction. This acquisition allows Banktech to build on the strong relationships that Authentic ATM has developed to further market our growing range of non ATM products and services to the hospitality industry.” said David Glen, Group Managing Director, Banktech.
Authentic Group has been operating its ATM business for the past three years and is very proud of the innovation and quality of service it has provided its customers during this time.
“Authentic Group has made a strategic decision to focus on expanding its cash services business but wanted to ensure our ATM customers continued to receive the best quality ATM service. Ultimately we aspired to compete with Banktech’s commitment to service excellence so our decision to partner with a market leader was an easy one. We know Banktech will deliver and we will continue to work closely with them to provide our cash services to the Authentic ATM venues and the broader market.” said Steve Newton, Managing Director, Authentic Group.
Established in 1991, The Banktech Group is becoming a diversified payments and services organisation across the region, including India, China (Hong Kong and Shanghai) and the Philippines.
In addition to the CashConnect ATM Network, Banktech:
Authentic Group’s cornerstone business philosophy is premium service and their goal is to allow their customers to concentrate on their core business to maximise profits.
Authentic Group services include ATM cashing, preventative maintenance services to cash handling equipment and cash in transit – both recarry service and depot processing and cash deliveries. All services are managed through the Authentic proprietary cloud-based processing system delivering real-time information to its customers. Authentic specialises in the hospitality industry and supports many of the largest clubs and hotels in Australia.
Contact: Roxanne Costello, Head of Marketing, The Banktech Group Pty Ltd, 02 8302 4000.