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The history of the Swedish ATM - Sparfrämjandet and Metior

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  • Thodenius, Björn
  • Batiz-Lazo, Bernardo
  • Karlsson, Tobias

Abstract

In this paper we describe the first decades of the history of the Swedish ATM (Automated teller machine). Sweden was one of the pioneers in using ATMs, starting with cash dispensers or cash machines in 1967. The first machine was made operational and shown to the press on July 6, 1967, in Uppsala at Upsala Sparbank, only one week after the first cash machine in the world was made operational in the UK. The Swedish machine was manufactured by the Malmö based company Metior. This paper seeks to document the origins and early development of cash machines by Swedish savings banks, employing oral as well as archival sources. Interestingly, we find that the key actor behind the ATM technology was not the saving banks’ computer company Spadab, but Sparfrämjandet, a company most known for its campaigns to encourage thrift among children.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 27083.

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Date of creation: Nov 2010
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Handle: RePEc:pra:mprapa:27083

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Keywords: cash dispensers; automated teller machines (ATM); technological change; savings banks; Sweden.;

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  1. W. Scott Frame & Lawrence J. White, 2009. "Technological Change, Financial Innovation, and Diffusion in Banking," Working Papers 09-03, New York University, Leonard N. Stern School of Business, Department of Economics.
  2. Bernardo Batiz-Lazo & Gustavo A. Del Angel, 2003. "Competitive collaboration and market contestability: cases in Mexican and UK banking, 1945-75," Accounting History Review, Taylor & Francis Journals, vol. 13(3), pages 339-368.
  3. Bátiz-Lazo, Bernardo & Wardley, Peter, 2007. "Banking on change: information systems and technologies in UK high street banking, 1919–1969," Financial History Review, Cambridge University Press, vol. 14(02), pages 177-205, October.
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