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The history of the Swedish ATM - Sparfrämjandet and Metior

Author

Listed:
  • 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.

Suggested Citation

  • Thodenius, Björn & Batiz-Lazo, Bernardo & Karlsson, Tobias, 2010. "The history of the Swedish ATM - Sparfrämjandet and Metior," MPRA Paper 27083, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:27083
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    References listed on IDEAS

    as
    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(2), pages 177-205, October.
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    Cited by:

    1. Bernardo Bátiz-Lazo, 2017. "Between Novelty and Fashion: Risk Management and the Adoption of Computers in Retail Banking," Palgrave Studies in the History of Finance, in: Korinna Schönhärl (ed.), Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century, pages 189-207, Palgrave Macmillan.
    2. Maixe-Altes, J. Carles, 2014. "ICT the Nordic Way and European Savings Banks," MPRA Paper 58252, University Library of Munich, Germany.

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    More about this item

    Keywords

    cash dispensers; automated teller machines (ATM); technological change; savings banks; Sweden.;
    All these keywords.

    JEL classification:

    • N8 - Economic History - - Micro-Business History
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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