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Onto the Global Stage:
The 1960s and the End of Parochialism
Automated Banking Machines
"Tomorrow morning at 9 a.m. the Royal Bank will open and never close again." So read the headlines in Toronto newspapers on July 28, 1972 as Royal Bank officially opened 13 automated banking machines in the Toronto area, with the promise of an additional installation in the fall. More than just a cash dispensing machine, these units, called Bankettes, provided access to a full range of banking services - a first in Canada. "We feel that Bankettes represent a truly significant step in the right direction of providing service when it is convenient for the customer, and not just when it is convenient for the bank," stated vice-president Rowland Frazee, at the unveiling.
By May of 1979 Royal Bank had 18 Bankettes and 51,000 cardholders in the Toronto area. A repositioning study commissioned by the bank in 1979 recommended expansion into western markets and the adoption of a new name. Personal Touch Banking, as the service became known, was launched in Calgary in May 1980, with a second installation in Vancouver in September 1980. Marked by an advertising blitz featuring renowned Canadian pianist Oscar Peterson, Royal Bank quickly expanded its network and by 1982, 400 Royal Bank Personal Touch Banking machines were in operation across Canada. In two short years it had become the largest network in Canada and one of the largest in North America - a position that Royal Bank maintains today.
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