Seven Bank, a subsidiary of Japan's retail giant Seven & i Holdings, is expanding into Malaysia, marking its fourth international venture after the United States, Indonesia, and the Philippines. This move is motivated by Malaysia's strong economic growth and the continued reliance on cash transactions, making it an appealing market for Seven Bank's ATM services.

The bank plans to expand its ATM network in Malaysia while introducing innovative services, such as banknote-recycling ATMs, particularly in areas with limited banking facilities. These ATMs will be placed in convenience stores, helping to improve financial access in rural regions where traditional banking services are scarce.

By partnering with 7-Eleven stores, Seven Bank can use the extensive convenience store network to offer customers easier access to financial services, enhancing convenience and attracting a larger customer base. The bank will start installing ATMs in Selangor, Malaysia, between October and December of this year.

This strategic expansion aligns with Seven Bank's growth goals and responds to Malaysia's financial needs. By offering accessible and innovative services, the bank aims to support Malaysia's economic development and improve financial inclusion for its citizens.