SONECT is the very first company in the world that is introducing sharing economy to cash logistics. SONECT converts any shop or individual into a “virtual ATM” – reducing cost of cash distribution for banks and easing up in store cash management for merchants via a location based on-demand service that allows its users to withdraw cash everywhere using smartphone.
Winner of LendIt Europe 2017, SONECT is one of the top fintech companies from Switzerland. What UBER is to Taxis, AirBnB to Hotels, SONECT is for the ATMs. It democratises the process of cash distribution and eliminates a significant portion of the value chain. SONECT disrupts the ATM industry by enabling any shop in the neighbourhood or any human being to act as a “virtual ATM”. SONECT builds a community around local businesses and helps them generate physical leads while banks save up to 50% in running their ATM operations and pursue branchless transformation by reducing number of ATMs. SONECT also helps banks get closer to their customers and expand services into new regions without any significant capital investment. The company is already working with some of the leading global banks and preparing for a European roll-out in 2018 after a successful launch in Switzerland. SONECT has been recently commended as the “best consumer payment initiative worldwide” by banking technology.