Japan 's Mizuho Bank is launching a new service that will enable its customers to receive unsecured personal loans via its ATMs.
According to a report by Japanese newspaper Mainichi Shimbun, the bank plans to roll out the instant loans facility across 6000 ATMs in March 2008.
The new service won't require customers to go through a credit assessment each time they take out loans. Instead the bank will conduct assessments beforehand and set an upper limit for each customer.
The bank expects to lend more than Y10 billion through the service in the first year, says the report.