Loomis and Sonect announces global partnership

Loomis and Sonect AG (“Sonect”) have reached an agreement to enter into a partnership. Sonect is a Swiss company that converts shops into a “virtual ATM”. This reduces cost of cash distribution for banks and simplifies in store cash management for merchants via a location-based on-demand service.   Sonect also helps banks expand their services into new regions and increases financial inclusion without any significant capital investments. The company is already working with some of the leading banks and is preparing for a pan European rollout after a successful launch in Switzerland.